Egypt’s Main Gauge Nears 5430 Pts Powered By Seven Kidnapping Release News
Egypt’s bourse has opened the sessions on Wednesday posting gains of EGP 810 million backed by the news about the release of the seven kidnapping army personnel in Sinai.
Accordingly, the bourse indices were wavering in green notes on Wednesday morning.
Benchmark EGX30 edged up by 0.41% to 5429.65 p. EGX20 also advanced by 0.48% to 6234.94 p.
Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.39% to 450.48 p. Price index EGX100 went up by 0.34% to 758.28 p.
The capital market has amounted to EGP 364.095 billion, according to data compiled by Amwal Al Ghad English at 11:10 a.m. Cairo time (09:10 GMT) during the opening session of Wednesday.
Trading Volumes & Values:
The trading volume has reached 3.946 million securities worth EGP 16.436 million, exchanged through 928 transactions during Wednesday’s opening.
Also during the opening session, 70 listed securities have been traded in; 48 advanced; while 22 steadied.
Investors’ Activities:
Local buying transactions have backed EGX’s opening gains as they were net buyers seizing 72.25% of the total markets, with a net equity of EGP 406.432 thousand excluding the deals.
Meanwhile, Arabs and the non-Arab foreigners were net sellers seizing 4.1% and 23.65% respectively, of the total markets, with a net equity of EGP 240.876 thousand and EGP 165.557 thousand, excluding the deals.
‘Seven Soldiers’ Crisis Resolved’
Seven Egyptian security personnel taken hostage by suspected militants in north Sinai were freed soon after the military started a sweep of the lawless area to secure their release, the army said.
The six members of the police and one army conscript were freed through the efforts of military intelligence in cooperation with the “honorable tribal leaders and residents of Sinai,” according to the army’s Facebook page.
The release of the seven, who were taken hostage May 16, may have averted a large-scale military operation to free them. Security forces had escalated their deployment in the strategic peninsula, and President Mohamed Morsi had said all options were on the table, while ruling out negotiations with what his office described as “criminals.”
Morsi thanked Egypt’s security services in a message posted on Twitter, and also expressed “respect and appreciation to our people in Sinai for putting the interest of the nation above any other consideration.”
The announcement of their release came a day after the state-run Ahram Gate reported that security forces killed one gunman and captured three others in an operation in north Sinai.
