Following Feat Holidays, Egypt Stocks Gain EGP2bn at Open

Following a three-day vacation, Egypt’s stocks open higher on Thursday with gains worth 2 billion Egyptian pounds powered by foreign investors’ buying appetite.

The trading sessions have been resumed today after announcing a three day vacation on the occasion of that Eid al-Fitr (Feast of Breaking the Fast).

Meanwhile, the EGX indices were wavering in green notes during the opening session of Thursday.

Indices

The Benchmark EGX30 inched up by 1.03% to 8825.12 p, and EGX20 hiked by 0.58% to 10535.59 p.

In addition, the mid- and small-cap index, the EGX70 increased by 0.49% to 625.65 p.  Price index EGX100 advanced by 0.47% to 1104.83 p.

Furthermore, market capitalization reached EGP 499.569 billion, according to data compiled by Amwal Al Ghad English at 11:08 a.m. Cairo time (09:08 GMT).

Trading Volumes & Values

The trading volume has 66.321 million securities worth EGP 708.217 million, exchanged through 4780 transactions during Thursday opening.

Also during the opening session, 118 listed securities have been traded in; 15 fell, 74 advanced; while 28 keeping their previous levels.

Investors’ Activities

The non-Arab foreign investors and Arab investors were net buyers at early trade capturing 47.17% and 0.72% respectively of the total markets, with a net equity of EGP 587.999 million and EGP 5.619 million, excluding the deals.

On the other hand, local investors were net sellers seizing 52.11% of the total market, with a net equity of EGP 593.619 million, excluding the deals.