Egypt’s bourse opened this week higher with gains worth 2 billion Egyptian pounds amid early Arab buying appetite. Accordingly, the country’s main stock index – EGX30 started trading early Sunday remarkably higher to near 7960 level.
This comes in accordance with the expectations made by Beltone Financial that EGX30’S rally will continue towards 7900-8000 points.
Moreover, the Egyptian Exchange’s indices were wavering in green notes during the opening session.
The Benchmark EGX30 hiked by 0.85% to 7959.98 p; while EGX20 climbed by 1.40% to 9462.81 p.
Additionally, the mid- and small-cap index, the EGX70 inched up by 0.90% to 665.57 p. Price index EGX100 grew by 0.83% to 1136.7 p.
Furthermore, market capitalization reached EGP 487.370 billion, according to data compiled by Amwal Al Ghad English at 11:02 a.m. Cairo time (09:02 GMT).
Turnovers & Trading Volumes
The trading volume has recorded 29.529 million securities, with turnovers reached EGP 84.534 million, exchanged through 2859 transactions during Sunday opening.
Also during the opening session, 108 listed securities have been traded in; 13 fell, 67 advanced; while 28 keeping their previous levels.
Arab investors were net buyers early Sunday acquiring 5.32% of the total market, with a net equity of EGP 5.081 million, excluding the deals.
On the contrary, Egyptian and the non-Arab foreign investors were net sellers seizing 80.99% and 13.69% respectively of the total markets, with a net equity of EGP 4.006 million and EGP 1.074 million respectively, excluding the deals.