Egyptian Stocks End Week with EGP2 billion Gains

Egypt’s stocks ended this week higher with gains totalling 2 billion Egyptian pounds triggered by foreign buying appetite. Accordingly, the main stock index, EGX30 surged above 8635 points on Thursday.

Meanwhile, the Egyptian Exchange’s indices turned to green notes during closing session of Thursday.

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan since the exchange would open from 10:00 to 13:30 Cairo time.

Indices

Egypt’s benchmark index EGX30 ended 0.52 per cent higher to 8637.84 pts; while EGX20 finished 0.50 per cent up to 10411.05 pts.     
In addition, the mid- and small-cap index, the EGX70 inched up by 0.34 per cent to finish at 615.16 pts. The price index EGX100 rose by 0.32 per cent to conclude at 1089.57 pts.  
Furthermore, the market capitalization recorded EGP 494.224 billion on Thursday.

Turnovers below EGP 1 billion
Through the closing session of Thursday, the trading volume has reached 106.685 million securities, with turnovers worth EGP 731.371 million, exchanged through 17.737 transactions.               
Also during the closing session, 177 listed securities have been traded in; 40 declined, 95 advanced; while 41 kept their previous levels.

Investors’ Activities

The non-Arab foreign and Arab investors were net buyers on Thursday capturing  9.92% and 14.28% respectively of the total markets, with a net equity of EGP 42.314 million and EGP 28.434 million respectively, excluding the deals.

On the contrary, local investors were net sellers seizing 75.79% of the total market, with a net equity of EGP 70.749 million, excluding the deals.