Egypt’s Benchmark Surges 1.2% Ahead of BOD Elections

Egypt’s stock market has posted gains of EGP 3.4 billion backed by foreign buyers ahead of the bourse’s Board of Directors elections by the closing session of Monday.

The Egyptian Exchange’s Board of Directors elections are set to kick off at 17:00 p.m. Cairo time (15:00 GMT).

Egypt’s benchmark index EGX30 climbed by 1.19% to close at 4658.53 p; the EGX20, it also surged by 1.51% to end at 5124.4 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged up by 1.33% to conclude at 356.5 p.  The price index EGX100 also rose by 0.79% to finish at 628.16 p.

The capital market has closed at EGP 317.887 billion on Monday.

Traded Volumes & Trades

Through the closing session of Monday, the trading volume reached 66.684 million securities. For the traded value, it reached EGP 162.192 million, exchanged through 12.083 thousand transactions.

Also during the closing session of Monday, 157 listed securities have been traded in; 32 declined, 98 advanced; while 27 keeping their previous levels.

Investors’ Activity

The non-Arab foreigners and Arabs’ buying transactions have backed EGX’s closing gains as they were net buyers seizing 16.18% and 5.73% respectively, of the total markets, with a net equity of EGP 19.329 million and 14.949 million excluding the deals

Meanwhile, Egyptians were net sellers seizing 78.09% of the total markets, with a net equity of EGP 34.278 million, excluding the deals.