Despite the unexpected cabinet’s resignation, Egypt’s bourse opened higher on Tuesday with gains worth 1.3 billion pounds powered by foreign buying appetite. Accordingly, the country’s main stock index started trading on Tuesday higher to near 8100 points.
Moreover, the Egyptian Exchange’s indices were wavering in green notes during the opening session, except for the mid- and small-cap index, the EGX70 which solely fell amid local and Arab selling pressures following the unexpected resignation of the Egyptian military-backed government.
The Benchmark EGX30 grew by 0.61% to 8094.43 p; while EGX20 climbed by 1.04% to 9680 p.
Additionally, the mid- and small-cap index, the EGX70 tumbled by 0.04% to 659.77 p. Price index EGX100 rose by 0.03% to 1130.34 p.
Furthermore, market capitalization reached EGP 493.208 billion, according to data compiled by Amwal Al Ghad English at 11:05 a.m. Cairo time (09:05 GMT).
Turnovers & Trading Volumes
The trading volume has recorded 12.281 million securities, with turnovers reached EGP 54.168 million, exchanged through 2304 transactions during Tuesday opening.
Also during the opening session, 103 listed securities have been traded in; 26 fell, 52 advanced; while 25 keeping their previous levels.
The non-Arab foreign investors were net buyers early Tuesday acquiring 3.91% of the total market, with a net equity of EGP 1.190 million, excluding the deals.
On the contrary, Egyptian and Arab investors were net sellers seizing 93.23% and 2.86% respectively of the total markets, with a net equity of EGP 751.564 thousand and EGP 439.413 thousand respectively, excluding the deals.