Egypt’s stock market rebound Wednesday with $415mn gains

Egypt’s stock market concluded Wednesday with gains worth 3.686 billion Egyptian pounds (US$415 million), despite local and foreigner investors sell off.

Market Caps

Market capitalisation records 402.703 billion pounds during the closing session of Wednesday.

Indices

Main index, EGX30 jumped 1.73 percent, to 7559.87 points.

Other indices; EGX50 EWI index pushed up 0.96 percent, to 1348.43  points; while EGX20 gained 2.29 percent, to 7882.31 points.

Mid- and small-cap index EGX70 picked up 0.50 percent, to 361.55 points. Price index, EGX100 added 0.63 percent, to 771.28 points.

Turnovers

The bourse’s trading volume reached 177.660 million securities, with turnovers, closing at 720.637 million pounds, exchanged through 21,612 transactions.

Also during the closing session, 161 listed securities have been traded in, 31 declined, 91 advanced; while 37 kept their previous levels.

Investors’ Activities

Local and foreign investors were net sellers controlling 77.45  and 13.03  percent respectively of the total markets, with a net equity of 15.908  million pounds and 17.756 million pounds, respectively, excluding the deals.

On the contrary, Arab foreign were net buyers capturing 9.51 percent of the total market, with a net equity of 33.665 million pounds, excluding the deals.