Obour Land’s first trading day: Cairo bourse gains $249m

Egyptian stock market concluded the week with gains estimated at around 4.6 billion Egyptian pounds (US$249.6 million) .

In its first trading day in Cairo bourse, Obour Land for Food Industries’ shares soared by 15 percent, reaching price level of 9.8 pounds with 5.5 million shares changed hands worth 52.4 million pounds.

Obour Land floated 40 percent stake that is equivalent to 80 million shares on Egypt’s bourse.

Indices

Egypt’s benchmark index, EGX30 rose by 0.08 percent to 11326.03 points.

The EGX50 EWI index went up by 0.32 percent to 1819.75 points.

EGX20 jumpped by 0.57 percent to 11168.33 points.

In addition, the mid- and small-cap index EGX70 boosted by 0.24 percent to 451.71 points. The price index, EGX100 inched up by 0.14 percent to 1064.36 points.

Turnovers

On Thursday, the bourse’s trading volume has hit 325.453 million securities, with turnovers closed at 1.435 billion pouds, exchanged through 31,065 thousand transactions.

Also during the closing session, 177 listed securities have been traded in; 73 declined, 64 advanced; while 40 kept their previous levels.

Investors’ Activities

Local and Arab investors were net sellers on Thursday seizing 71.18 percent and 5.8 percent respectively of the total markets, with a net equity of 74.934 million pounds and 31.495 million pounds, respectively, excluding the deals.

On the contrary, the foreign investors were net buyers getting 23.02 percent of the total market, with a net equity of 106.429 million pounds, excluding the deals.