Egypt’s stock market posts gains of EGP14bln in a week

Egypt’s stock benchmark posts gains of 14 billion Egyptian pounds ($863.3 million) on Egyptians buying appetite.

Market capital registered closed on Thursday at 727.7 billion pounds, compared with 713.6 billion pounds the previous week.

Indices

Benchmark EGX 30 rose 2.47 percent, to close the last day of trading this week at 14,558 points.

The mid- and small-cap index, EGX 70 gained 2.7 percent in a week closing at 531 points during Thursday session. Price index, EGX 100 also made a weekly gain of 2.16 percent closing at 1,43points.

Benchmark S&P has increased 1.58 percent has closed at 215.3 points.

During the week, the trading volume hit around 17.1 billion pounds with turnovers 1.1196 million exchanged though 113 thousands transactions. For the traded value, it reached around 7.7 billion pounds with turnovers registering 925 million, exchanged through 87 thousand transactions.

Investors’ Activities

Egyptians accounted for 74.2 percent of total transactions, while foreigners accounted for 18.5%, and Arabs accounted for 7.3 percent, after excluding deals. Foreigners were net buyers, with a net equity of  31.8 million pounds, while Arab investors were net sellers, with a net equity of LE 0.9 million, after excluding deals.

It is noteworthy that Egyptians accounted for 67.0% of the total value of shares traded since the beginning of the year after excluding deals, while foreigners recorded 24.0% and Arabs recorded 9.0% and foreigners recorded a net sale of about 1,979.4 million pounds and Arabs recorded a net sale of about 520.5 million pounds On the restricted shares after excluding deals since the beginning of the year.