Egypt Stocks Up at Open, EGX30 Crosses 8575

Egypt’s stocks opened higher on Tuesday registering gains worth 2.7 billion Egyptian pounds boomed by foreign investors’ buying appetite. The country’s stock index, EGX30 also started trading higher crossing 8575 points.

Meanwhile, the EGX indices were wavering in green notes during the opening session of Tuesday.

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 hiked by 0.80% to 8576.64 p, and EGX20 inched up by 0.81% to 10330.5 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.46% to 610.64 p.  Price index EGX100 also rose by 0.56% to 1083.07 p.

Furthermore, market capitalization reached EGP 491.747 billion, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 55.855 million securities worth EGP 337.186 million, exchanged through 5356 transactions during Tuesday opening.

Also during the opening session, 113 listed securities have been traded in; 14 fell, 77 advanced; while 22 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net buyers at early trade on Tuesday capturing 7.39% and 4.72% respectively of the total markets, with a net equity of EGP 29.601 million and EGP 3.236 million, excluding the deals.

On the other hand, Egyptian investors remained net sellers seizing 87.89% of the total market, with a net equity of EGP 32.838 million, excluding the deals.