Egypt Stocks snap Losing Streak, gain EGP2.8 billion

Egypt’s stock market shares rebounded Wednesday with gains totalling 2.8 billion Egyptian pounds (US$367 million) triggered by non-Arab foreign investors’ buying appetite.

The market capitalization has hit 503.836 billion pounds during the closing session of Wednesday.

Indices:

Egypt’s benchmark index, EGX30 inched up by 0.63 percent to close at 8629.49 points. EGX20 rose by 0.14 percent to 9184.86 points.

In addition, the mid- and small-cap index EGX70 increased by 0.42 percent to 487.56 points. The price index, EGX100 dipped by 0.02 percent to 986.33 points.

Turnovers surge
On Wednesday, the bourse’s trading volume has recorded 103.601 million securities, with turnovers closed at EGP 981.637 million, exchanged through 16.696 thousand transactions.

Also during the closing session, 181 listed securities have been traded in; 53 declined, 86 advanced; while 35 kept their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers on Wednesday capturing 9.47% of the total market, with a net equity of EGP 8.371 million, excluding the deals.

On the other hand, local and Arab investors were net sellers seizing 88.2% and 2.34% respectively of the total markets, with a net equity of EGP 3.455 million and EGP 4.915 million, respectively, excluding the deals.