Egypt’s stocks surged on Tuesday with gains worth 4 billion Egyptian pounds backed by foreign investors’ strong buying appetite. The country’s main stock index, EGX30 climbed to near 8635 points during the closing session.
Egypt’s benchmark index EGX30 ended 1.15 per cent higher to 8633.15 pts; and EGX20 finished 1.60 per cent up to 9915.63 pts.
In addition, the mid- and small-cap index, the EGX70 pushed up by 1.71 per cent to finish at 585.78 pts. The price index EGX100 grew by 1.26 per cent to conclude at 1065.77 pts.
Furthermore, the market capitalization recorded EGP 489.911 billion on Tuesday.
Turnovers still below EGP One billion
Through the closing session of Tuesday, the trading volume has reached 147.365 million securities, with turnovers worth EGP 796.478 million, exchanged through 23.436 transactions.
Also during the closing session, 175 listed securities have been traded in; 18 declined, 132 advanced; while 22 kept their previous levels.
Arab and the non-Arab foreign investors were net buyers on Tuesday capturing 8.1% and 17.72% respectively of the total markets, with a net equity of 21.654 million and EGP 33.023 million, respectively, excluding the deals.
On the other hand, local investors were net sellers seizing 74.18% of the total market, with a net equity of EGP 54.678 million, excluding the deals.