Egyptian stocks continue to rise on Wednesday

Egypt’s stock market edged higher Wednesday with gains estimated at 2.5 million Egyptian pounds (US$ 31 million) on Egyptian and Arab buying appetite.

The market capitalisation has recorded 416.425 billion pounds during the closing session of Wednesday.

Indices:

Egypt’s benchmark index, EGX30 surge 1.05 percent to 6488.51 points.

EGX50 EWI index increased 1.25 percent to 1119.77 point

EGX20 climbed 2.06 percent to 6497.37 points.

In addition, the mid- and small-cap index EGX70 surged by 0.86 percent to 359.16 points. The price index, EGX100 inched up 0.68 percent to 751.72

Turnovers high

On Wednesday, the bourse’s trading volume hit 243.297 million securities, with turnovers closed at 492.886 million pounds, exchanged through 17,687 thousand transactions.

Also during the closing session,156  listed securities have been traded in; 28 declined,81 advanced; while 44 kept their previous levels.

Investors’ Activities

Local and Arab investors were net buyers on Wednesday seizing 82.15 percent and 8.58 percent respectively of the total markets, with a net equity of 23.266 million pounds and 6.378 million pounds, respectively, excluding the deals.

On the contrary, foreign investors were net sellers getting 9.27 percent of the total market, with a net equity of  29.645 million pounds, excluding the deals.