Egypt’s stocks closed higher on Tuesday with gains totalling 1.6 billion pounds powered by non-Arab foreign buying appetite. In return, the country’s main stock index – EGX30 also hiked to near 8200 points during closing session.
Meanwhile, the Egyptian Exchange (EGX) indices were wavering in green notes on Tuesday afternoon.
Egypt’s benchmark index EGX30 closed 0.44 per cent higher to 8196.83 pts; while EGX20 finished 0.84 per cent up to 9871.15 pts.
Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.53 per cent to end at 654.29 pts. The price index EGX100 also rose by 0.45 per cent to conclude at 1124.34 pts.
Furthermore, the market capitalization recorded EGP 493.460 billion on Tuesday.
Turnovers above One Billion Pounds
Through the closing session of Tuesday, the trading volume has reached 369.530 million securities, with turnovers worth EGP 1.231 billion, exchanged through 39.451 thousand transactions.
Also during the closing session, 179 listed securities have been traded in; 41 declined, 115 advanced; while 23 keeping their previous levels.
The non-Arab foreign investors were net buyers on Tuesday capturing 8.49% of the total market, with a net equity of EGP 70.067 million, excluding the deals.
On the other hand, Egyptian and Arab investors were net sellers seizing 82.85% and 8.66% respectively of the total markets, with a net equity of EGP 31.883 million and EGP 38.184 million respectively, excluding the deals.
At the EGX30, Cairo-based investment bank EFG-Hermes Holding (HRHO.CA) saw its share price increase on Tuesday by 0.08 percent to EGP 13.09.
Market bellwether Commercial International Bank S.A.E. (COMI.CA) plunged by 1.31 percent to EGP 37.00.
In the real estate sector, Palm Hills Development Company (PHDC.CA) jumped by 4.42 percent to trade at EGP 4.02, Talaat Moustafa Group Holding (TMGH.CA) fell by 0.96 percent to trade at EGP 8.24, while Sixth of October Development and Investment Co S.A.E – SODIC (OCDI.CA) soared by 6.72 percent to close at EGP 27.00.