Egypt stocks start week 1.3% higher as foreigners continue to buy

Egypt’s stock market surged on Monday on foreign investors’ consistently buying appetite since the Egyptian pound was floated on Nov. 3.

Main index EGX 30, also closed on Sunday for a holiday, rose 1.29 percent, to 11444.06 points after two sessions of declines.

The market did not show any major reaction to the suicide bomb arrack at the weekend that killed 24 people at Cairo’s main cathedral.

Other indices; EGX50 EWI index surged 1.26 percent, to 1842.16 points; EGX20 climbed 2.31 percent, to 11230.06 points.

Mid- and small-cap index EGX70 fell 0.12 percent, to 448.82 points. Price index, EGX100 went up 0.43 percent, to 1065.12 points.

Market Cap

Market capitalisation posted gains worth 6.16 Egyptian pounds (around $333 million), to record 569.798 billion pounds during the closing session of Monday.

Turnovers

The bourse’s trading volume reached 400.537 million securities, with turnovers, closing at 1.733 billion pounds, exchanged through 35,835 transactions.

Also during the closing session, 178 listed securities have been traded in, 52 declined, 94 advanced; while 30 kept their previous levels.

Investors’ Activities

Non-Arab foreign and Arab investors remained net buyers controlling 10.8 and 8.11 percent respectively of the total markets, with a net equity of 696,967 pounds and 49.238 million pounds, respectively, excluding the deals.

On the contrary, local investors were net sellers capturing 81.08 percent of the total market, with a net equity of 49.935 million pounds, excluding the deals.