Egypt’s Main Index Ends Week 1.7% Up, Nears 7900

Egypt’s stocks ended this week higher with gains totalling 6 billion Egyptian pounds bolstered by non-Arab foreign buying appetite. Accordingly, the main stock index, EGX30 finish this week 1.7% up to near 7900 points.

Meanwhile, the Egyptian Exchange (EGX) indices rebounded during closing session to waver again in green notes on Thursday afternoon.


Egypt’s benchmark index EGX30 closed 1.69 per cent higher to 7899.46 pts; while EGX20 finished 1.99 per cent up to 9418.58 pts.     
On the contrary, the mid- and small-cap index, the EGX70 surged by 1.15 per cent to end at 595.39 pts. The price index EGX100 pushed up by 1.20 per cent to conclude at 1043.99 pts.  
Furthermore, the market capitalization recorded EGP 469.516 billion on Thursday.

Turnovers Near one Billion Pounds
Through the closing session of Thursday, the trading volume has reached 315.605 million securities, with turnovers worth EGP 972.842 million, exchanged through 37.228 thousand transactions.              
Also during the closing session, 187 listed securities have been traded in; 24 declined, 147 advanced; while 16 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors were net buyers capturing 6.63% of the total market, with a net equity of EGP 14.208 million, excluding the deals.

On the other hand, Egyptian and Arab investors were net sellers seizing 87.11% and 6.25% respectively of the total markets, with a net equity of EGP 1.896 million and EGP 12.311 million respectively, excluding the deals.

Companies’ Activities

At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price rise on Thursday by 1.89 percent to EGP 12.40.

Market bellwether Commercial International Bank S.A.E. (COMI.CA) inched up by 1.28 percent to EGP 37.20.

In the real estate sector, Palm Hills Development Company (PHDC.CA) soared by 4.23 percent to trade at EGP 3.70, yet Talaat Moustafa Group Holding (TMGH.CA) tumbled by 0.77 percent to trade at EGP 7.71, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) also sagged by 0.12 percent to close at EGP 24.81.