Egypt stocks rebound Monday on foreign buying

Foreign buying helped Egypt’s stock market partially rebounded Monday from a drop on Sunday.

Main index EGX 30, which had tumbled 1.8 percent on Sunday as its rally in response to the November 3rd float of the Egyptian pound lost steam, rebounded 1.04 percent, to close at 11261.82 points on Monday.

Other indices; EGX50 EWI index also climbed 1.85 percent, to 1790.23 points; EGX20 surged 0.97 percent, to 11056.72 points.

Mid- and small-cap index EGX70 grew 0.45 percent, to 446.97 points. Price index, EGX100 added 0.66 percent, to 1059.04 points.

Market Cap

Market capitalisation posted gains worth 5.4 billion Egyptian pounds (around $304 million), to record 557.438 billion pounds during the closing session of Monday.

Turnovers

The bourse’s trading volume reached 360.316 million securities, with turnovers, closing at 1.944 billion pounds, exchanged through 33,808 transactions.

Also during the closing session, 195 listed securities have been traded in, 49 declined, 103 advanced; while 32 kept their previous levels.

Investors’ Activities

Non-Arab foreign and Arab investors were net buyers controlling 12.51 and 8.17 percent respectively of the total markets, with a net equity of 193.248 million pounds and 19.147 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers capturing 79.32 percent of the total market, with a net equity of 212.396 million pounds, excluding the deals.