Egyptian Stocks up at Open, EGX30 Hits 8240 on Foreign Buying Appetite

Egypt’s stocks opened higher on Thursday with gains amounting to 3.8 billion Egyptian pounds triggered by foreign investors’ buying appetite. In return, the main stock index, EGX30 started trading remarkably higher to cross 8240 points.

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

EGX is operating with shortened trading hours during the Islamic fasting month of Ramadan.

The exchange is opened from 10:00 to 13:30 Cairo time during Ramadan.

Indices

The Benchmark EGX30 climbed by 1.21% to 8240.59 p, and EGX20 pushed up by 1.35% to 9979.48 p.

In addition, the mid- and small-cap index, the EGX70 hiked by 0.75% to 600.63 p.  Price index EGX100 also grew by 0.71% to 1048.45 p.

Furthermore, market capitalization reached EGP 481.457 billion, according to data compiled by Amwal Al Ghad English at 11:15 a.m. Cairo time (09:15 GMT).

Trading Volumes & Values

The trading volume has recorded 48.801 million securities worth EGP 145.495 million, exchanged through 5037 transactions during Thursday opening.

Also during the opening session, 120 listed securities have been traded in; 8 fell, 84 advanced; while 28 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net buyers at early trade on Thursday capturing 9.55% and 7.4% respectively of the total markets, with a net equity of EGP 4.051 million and EGP 3.985 million, excluding the deals.

On the other hand, Egyptian investors were net sellers seizing 83.06% of the total market, with a net equity of EGP 8.036 million, excluding the deals.