Egypt’s bourse ended higher on Sunday with gains totalling 5.8 billion Egyptian pounds powered by foreign buying appetite. In return, the country’s main stock index crosses 8000 level, poised Sunday for highest rise since September 2008. EGX30’s upturn is coinciding with expectations made by Beltone Financial that the rally will continue towards 7900-8000 points.
The Egyptian Exchange (EGX) indices were wavering in green notes on Sunday afternoon.
Egypt’s benchmark index EGX30 ended 1.47 per cent higher to 8008.86 pts; while EGX20 finished 1.92 per cent up to 9511.11 pts.
Meanwhile, the mid- and small-cap index, the EGX70 hiked by 0.92% to close at 665.72 pts. The price index EGX100 inched up by 0.88 per cent to conclude at 1137.23 pts.
Furthermore, the market capitalization recorded EGP 491.029 billion on Sunday.
Turnovers Crossing One Billion Pounds
Through the closing session of Sunday, the trading volume has reached 362.940 million securities, with turnovers worth EGP 1.129 billion, exchanged through 43.267 thousand transactions.
Also during the closing session, 192 listed securities have been traded in; 78 declined, 98 advanced; while 16 keeping their previous levels.
foreign investors were net buyers on Sunday capturing 3.06% of the total market, with a net equity of EGP 79.007 million, excluding the deals.
On the contrary, Egyptian and Arab investors were net sellers seizing 93.34% and 3.61% respectively of the total markets, with a net equity of EGP 48.745 million and 30.262 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price jump by 7.44 percent to EGP 12.57.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) climbed by 2.29 percent to EGP 37.00.
In the real estate sector, Palm Hills Development Company (PHDC.CA) fell by 0.30 percent to trade at EGP 3.32, Talaat Moustafa Group Holding (TMGH.CA) pushed up by 2.51 percent to trade at EGP 7.76, and Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) rose by 0.60 percent to close at EGP 25.10.