Egyptian Investors’ Buying Appetite Spurs EGX30 above 8530 at Open

Egypt’s stock market rallied at early trading on Wednesday earning 5.1 billion pounds powered by local buying appetite. In return, the main stock index – EGX30 opened higher crossing 8530 points.

The Egyptian Exchange indices were wavering on green notes during the opening session of Wednesday.

The Benchmark EGX30 increased by 0.36% to  8532.39 p, and EGX20 also rose by 0.32% to 10315.22 p.

Meanwhile, the mid- and small-cap index, the EGX70 inched up by 1.62% to 651.92 p.  Price index EGX100 surged by 1.22% to 1133.11 p.

Furthermore, market capitalization reached EGP 502.225 billion, according to data compiled by Amwal Al Ghad English at 11:28p.m. Cairo time (09:28 GMT).

Trading Volumes & Values

The trading volume has recorded 40.659 million securities worth EGP 191.427 million, exchanged through 7318 transactions during Wednesday opening.

Also during the opening session, 127 listed securities have been traded in; 31 fell, 68 advanced; while 28 keeping their previous levels.

Investors’ Activities

Egyptian investors were net buyers at early trading on Wednesday capturing  91.78% of the total market, with a net equity of EGP 1.098 million, excluding the deals.

On the other hand, Arab and the non-Arab foreign investors were net sellers seizing 6.14% and 2.08% respectively of the total markets, with a net equity of EGP 601.657 thousand and EGP 497.067 thousand respectively, excluding the deals.