Egypt Stocks Rebound, Gain EGP2.3bn at Midday

Egypt’s stocks rose during Tuesday’s midday session, attaining gains 2.3 billion Egyptian pounds backed by foreign investors’ buying appetite. Accordingly, the country’s main stock index, EGX30 exceeded 8550 points.

Meanwhile, the EGX indices were wavering in green notes during the midday session of Tuesday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 surged by 0.95% to 8551.43 p, and EGX20 hiked by 0.77% to 10255.79 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.43% to 615.56 p. Yet, the Price index EGX100 grew by 0.52% to 1087.8 p.

Furthermore, market capitalization reached EGP 491.213 billion, according to data compiled by Amwal Al Ghad English at 12:29 p.m. Cairo time (10:29 GMT).

Trading Volumes & Values

The trading volume has recorded 52.523million securities worth EGP 202.483 million, exchanged through 7845 transactions during Tuesday midday.

Also during the midday session, 134 listed securities have been traded in; 21 fell, 89 advanced; while 24 keeping their previous levels.

Investors’ Activities

Arab and the non-Arab foreign investors were net buyers at midday trade capturing 8.5% and 12.01% respectively of the total markets, with a net equity of EGP 17.705 million and EGP 29.647 million, excluding the deals.

On the other hand, local investors were net sellers seizing 79.49% of the total market, with a net equity of EGP 47.352 million, excluding the deals.