Egypt’s stock market ended higher on Tuesday with gains totalling 1.7 billion Egyptian pounds backed by foreign buying appetite. In return, the main stock index – EGX30 derailed a three-session losing streak, closing near 7920 points.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in green notes on Tuesday afternoon, except for the mid- and small-cap index, EGX70 which solely fell. Yet, the trading volume declined again.
Egypt’s benchmark index EGX30 closed 1.47 per cent lower to 7919.72 pts; while EGX20 finished 0.92 per cent down to 9489.88 pts.
On the contrary, the mid- and small-cap index, the EGX70 fell by 0.19 per cent to end at 594.26 pts. The price index EGX100 rose by 0.06 per cent to conclude at 1041.85 pts.
Furthermore, the market capitalization recorded EGP 471.248 billion on Tuesday.
Turnovers above below
Through the closing session of Tuesday, the trading volume has reached 242.316 million securities, with turnovers worth EGP 678.383 million, exchanged through 30.355 thousand transactions.
Also during the closing session, 184 listed securities have been traded in; 91 declined, 68 advanced; while 25 keeping their previous levels.
Arab and the non-Arab foreign investors were net buyers on Tuesday capturing 5.03% and 8.95% respectively of the total markets, with a net equity of EGP 32.507 million and EGP 37.490 million respectively, excluding the deals.
On the other hand, Egyptian investors were net sellers seizing 86.02% of the total market, with a net equity of EGP 69.998 million, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price surged on Tuesday by 2.19 percent to EGP 12.60.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) jumped by 4.89 percent to EGP 37.30.
In the real estate sector, Palm Hills Development Company (PHDC.CA) pushed up by 2.45 percent to trade at EGP 3.77, Talaat Moustafa Group Holding (TMGH.CA) soaerd by 5.88 percent to trade at EGP 8.10, in addition the Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) hiked by 0.97 percent to close at EGP 26.00.