Egypt Stocks Surge on Wednesday on Foreign Strong Buying Appetite

Big 5

Egypt’s stocks ended higher on Wednesday posting gains totalling 3.8 billion propelled by foreign investors’ strong buying appetite. Accordingly, the country’s main stock index, EGX30 surged to cross the level of 9300 points.

The Egyptian Exchange’s indices were wavering in green notes during the closing session of Wednesday.

Indices

Egypt’s benchmark index EGX30 ended 1.28 per cent higher to 9304.98 pts; while EGX20 closed 1.09 per cent up to 10744.78 pts.

In addition, the mid- and small-cap index, the EGX70 rose by 0.05 per cent to finish at 628.69 pts. The price index EGX100 grew by 0.53 per cent to conclude at 1140.04 pts.  
Furthermore, the market capitalization recorded EGP 517.436 billion on Wednesday.

Turnovers below EGP One billion
Through the closing session of Wednesday, the trading volume has reached 196.019 million securities, with turnovers worth EGP 802.010 thousand, exchanged through 23.847 transactions.                 
Also during the closing session, 187 listed securities have been traded in; 52 declined, 107 advanced; while 25 kept their previous levels.

Investors’ Activities

Arab and non-Arab foreign investors were net buyers on Wednesday capturing 7.8% and 13.47% respectively of the total markets, with a net equity of EGP 3.474 million and EGP 37.213 million, respectively, excluding the deals.

On the other hand, local investors were net sellers seizing 78.72% of the total market, with a net equity of EGP 40.687 million, excluding the deals.

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