Egyptian Stocks Open New Week Higher, EGX30 Nears 9470

Egypt’s stocks opened a new week higher with gains worth 2.8 billion Egyptian pounds powered by local and non-Arab foreign investors’ strong buying appetite. Accordingly, the country’s main stock index, EGX30 surged to hover around 9470 points on Sunday opening.

The Egyptian Exchange (EGX)’s indices were wavering in green notes during the opening session of Sunday.

Indices

The Benchmark EGX30 inched up by 1% to 9467.11 p, and EGX20 grew by 1.12% to 11383.25 p.

In addition, the mid- and small-cap index, the EGX70 climbed by 1.27% to 660.63 p.  Price index EGX100 pushed up by 1.05% to 1177.74 p.

Furthermore, market capitalization reached EGP 522.631 billion, according to data compiled by Amwal Al Ghad English at 11:21 a.m. Cairo time (09:21 GMT).

Trading Volumes & Values

The trading volume has reached 53.739 million securities worth EGP 250.280 million, exchanged through 5443 transactions during Sunday opening.

Also during the opening session, 118 listed securities have been traded in; 14 fell, 79 advanced; while 24 keeping their previous levels.

Investors’ Activities

Local and the non-Arab foreign investors were net buyers at early trade capturing 83.19% and 14.34% respectively of the total markets, with a net equity of EGP 3.937 million and EGP 1.786 million, excluding the deals.

On the other hand, Arab investors were net sellers seizing 2.47% of the total market, with a net equity of EGP 5.724 million, excluding the deals.