Egypt’s stock market has rallied on Tuesday posting closing gains of EGP 1.7 billion despite investor concern anti-government protests will gain momentum as President Mohamed Morsi marks the first anniversary of his election by June 30th.
The Egyptian Exchange’s indices ended on green notes, except for the mid- and small-cap index, the EGX70, which solely declined.
Egypt’s benchmark index EGX30 surged by 1.52% to close at 4848.6 p; while the EGX20, it inched up by 0.90% to end at 5350.95 p.
Meanwhile, the mid- and small-cap index, the EGX70 fell by 0.52% to conclude at 369.32 p. The price index EGX100 also advanced by 0.01% to finish at 652.2 p.
The capital market has closed at EGP 327.770 billion on Tuesday.
Traded Volumes & Trades
Through the closing session of Tuesday, the trading volume reached 58.619 million securities. For the traded value, it reached EGP 232.208 million, exchanged through 11.912 thousand transactions.
Also during the closing session of Tuesday, 156 listed securities have been traded in; 58 declined, 56 advanced; while 42 keeping their previous levels.
The non-Arab foreigners and Arabs’ buying transactions have backed EGX’s closing gains as they were net buyers seizing 21.35% and 6% respectively, of the total markets, with a net equity of EGP 25.821 million and 269.212 thousand excluding the deals.
Meanwhile, Egyptians were net sellers seizing 72.65% of the total markets, with a net equity of EGP 26.090 million, excluding the deals.
On Monday, Egyptian shares fell to the lowest in more than 10 months on investor concern anti-government protests will gain momentum as President Mohamed Morsi marks the first anniversary of his election.
It is worth mentioning that a group of peaceful Egyptian youth launched a campaign entitled “Tamarod” or “Rebel” last April in order to overthrow Morsi, who came to the office in 2012. Those youth, who launched the campaign, also called for massive demonstrations in 30th June 2013 across Egypt, setting up a possible confrontation with his Islamist backers.