Egypt stocks rebound Wednesday with gains $301mn

Egypt’s stock market edged higher on Wednesday with gains worth 2.362 billion Egyptian pounds (US$301 million) despite Local and Arab sell off.

The market capitalisation has recorded 395.101 billion pounds during the closing session of Wednesday.

Indices

Egypt’s benchmark index, EGX30 increased by 0.97 percent to 6062.65 points.

The  EGX50 EWI index went up by 0.81 percent to 1090.52 points.

EGX20 hiked by 0.89 percent to 6051.72 points.

In addition, the mid- and small-cap index EGX70 jumped by 0.58 percent to 351.03 points. The price index, EGX100 climbed by 0.51 percent 705.88 points.

Turnovers high

On  Wednesday, the bourse’s trading volume hit 214.744 million securities, with turnovers closed at  1.076 billion pounds , exchanged through 17,675 thousand transactions.

Also during the closing session, 165 listed securities have been traded in; 25 declined, 89 advanced; while 43 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers on Wednesday seizing 95.48 % and 1.74 % respectively of the total markets, with a net equity of EGP 5.863 million and EGP 13.987 million, respectively, excluding the deals.

On the contrary, the foreign investors were net buyers getting 2.78 % of the total market, with a net equity of EGP 19.850 million, excluding the deals.