Egyptian Shares Open a New Week Higher, Gain EGP1.8 billion

Egyptian stocks opened a new week higher with early gains amounting to 1.8 billion pounds powered by local and foreign buying appetite following the issuance of a new presidential elections law. Accordingly, the country’s main stock index – EGX30 rallied early Sunday to cross 7970 points.

The Egyptian Exchange indices were wavering in green notes during opening trading session of Sunday.

The Benchmark EGX30 went up by 0.27% to 7971.27 p; EGX20 also rose by 0.24% to 9556.54 p.

Additionally, the mid- and small-cap index, the EGX70 increased by 0.73% to 650.08 p.  Price index EGX100 advanced by 0.57% to 1109.94 p.

Furthermore, market capitalization reached EGP 490.465 billion, according to data compiled by Amwal Al Ghad English at 11:17 a.m. Cairo time (09:17 GMT).

Trading Volumes & Values

The trading volume has recorded 30.662 million securities worth EGP 94.504 million, exchanged through 3603 thousand transactions during Sunday opening.

Also during the opening session, 101 listed securities have been traded in; 19 fell, 56 advanced; while 26 keeping their previous levels.

Investors’ Activities

Egyptians and the non-Arab foreigners were net buyers at early trading of Sunday capturing 84.23% and 9.03% respectively of the total markets, with a net equity of EGP 6.254 million and EGP 1.646 million respectively, excluding the deals.

On the contrary, Arabs were net sellers seizing 6.73% of the total market, with a net equity of EGP 7.900 million, excluding the deals.