Following Easter Holidays, Egypt Shares Gain EGP4.8 billion at Open

After two-day Easter Holidays, Egypt’s stocks opened a new week higher with gains amounting to 4.8 billion Egyptian pounds. In return, the main stock index, EGX30 surged to cross 8255 points at early trading on Tuesday powered by local investors’ buying appetite.

The Egyptian Exchange (EGX) said trading activities will be halted on Sunday, April 20 and Monday, April 21, 2014 for the Easter holidays.

The Egyptian Exchange indices were wavering on green notes during the opening session of Tuesday.

The Benchmark EGX30 pushed up by 1.89% to 8257.21 p, and EGX20 hiked by 1.92% to 9945.53 p.

Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.73% to 610.86 p.  Price index EGX100 rose by 0.70% to 1069.57 p.

Furthermore, market capitalization reached EGP 482.463 billion, according to data compiled by Amwal Al Ghad English at 11:14 a.m. Cairo time (09:14 GMT).

Trading Volumes & Values

The trading volume has recorded 33.841 million securities worth EGP 127.438 million, exchanged through 5026 transactions during Tuesday opening.

Also during the opening session, 130 listed securities have been traded in; 11 fell, 89 advanced; while 30 keeping their previous levels.

Investors’ Activities

Egyptian investors were net buyers at early trade on Tuesday capturing 84.6% of the total market, with a net equity of EGP 21.537 million, excluding the deals.

On the other hand, Arab and the non-Arab foreign investors were net sellers seizing 8.15% and 7.26% respectively of the total markets, with a net equity of EGP 7.090 million and EGP 14.446 million respectively, excluding the deals.