Egypt Stocks Surge at Midday, EGX30 Hits 8625

Egypt’s stocks rallied during midday session on Thursday, attaining gains worth 1.6 billion Egyptian pounds powered by non-Arab foreign investors’ buying appetite. The main stock index, EGX30 increased to hit 8625 points.

Meanwhile, the EGX indices were wavering in green notes during the midday session of Thursday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 went up by 0.38% to 8625.84 p, and EGX20 rose by 0.44% to 10404.27 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.24% to 614.52 p. Yet, the Price index EGX100 hiked by 0.26% to 1088.94 p.

Furthermore, market capitalization reached EGP 493.889 billion, according to data compiled by Amwal Al Ghad English at 13:07 p.m. Cairo time (11:07 GMT).

Trading Volumes & Values

The trading volume has recorded 78.008 million securities worth EGP 550.320 million, exchanged through 12.619 transactions during Thursday midday.

Also during the midday session, 161 listed securities have been traded in; 36 fell, 85 advanced; while 39 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers at midday trade capturing 8.08% of the total market, with a net equity of EGP 20.149 million, excluding the deals.

On the other hand, local and Arab investors were net sellers seizing 77.07% and 14.85% respectively of the total markets, with a net equity of EGP 19.345 million and EGP 804.119 thousand, excluding the deals.