Egyptian stocks jump 1.9% on foreign funds

Egypt’s bourse closed much higher on Tuesday as international funds flowed back into the market.

Main index jumped 1.90 percent, to 7549.97 points, on the heaviest volume for almost four weeks as international funds bought Egyptian shares.

Other indices; EGX50 EWI index popped up 1.44 percent, to 1395.22 points; while EGX20 gained 2.98 percent, to 7544.2 points.

Mid- and small-cap index EGX70 grew 0.45 percent, to 370.3 points. Price index, EGX100 hiked 0.73 percent, to 780.71 points.

Market Caps

Market capitalisation earned 4.4 billion Egyptian pounds ($495.5 million), to record 404.071 billion pounds during the closing session of Tuesday.

Turnovers higher

The bourse’s trading volume hit 303.945 million securities, with turnovers, closing at 935.724 pounds, exchanged through 25,401 transactions.

Also during the closing session, 174 listed securities have been traded in, 39 declined, 95 advanced; while 36 kept their previous levels.

Investors’ Activities

Non-Arab foreign investors were net buyers capturing 19.14 percent of the total market, with a net equity of 73.530 million pounds, excluding the deals.

On the contrary, local and Arab foreign investors were net sellers controlling 71.77 and 9.09 percent respectively of the total markets, with a net equity of 56.382 million pounds and 17.147 million pounds, respectively, excluding the deals.