Egyptian Shares Gain EGP2 billion at Open, EGX30 Exceeds 8750

Egypt’s stocks opened higher on Thursday posting gains of 2.1 billion Egyptian pounds powered by non-Arab foreign investors’ buying appetite. Accordingly, the main stock index, EGX30 also started trading higher crossing 8750 points.

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

Indices

The Benchmark EGX30 hiked by 0.50% to 8752.07 p, and EGX20 grew by 0.63% to 10610.46 p.

In addition, the mid- and small-cap index, the EGX70 went up by 0.26% to 610.23 p.  Price index EGX100 also increased by 0.32% to 1072.33 p.

Furthermore, market capitalization reached EGP 489.934 billion, according to data compiled by Amwal Al Ghad English at 11:01 a.m. Cairo time (08:01 GMT as Egypt turned to Daylight saving time).

Trading Volumes & Values

The trading volume has recorded 24.349 million securities worth EGP 69.408 million, exchanged through 2143 transactions during Thursday opening.

Also during the opening session, 89 listed securities have been traded in; 11 fell, 46 advanced; while 32 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers at early trade on Thursday capturing 66.27% of the total market, with a net equity of EGP 808.918 million, excluding the deals.

On the other hand, Egyptian and Arab investors were net sellers seizing 33.52% and 0.21% respectively of the total markets, with a net equity of EGP 808.455 million and EGP 462.874 thousand respectively, excluding the deals.