Following the announcement of an agreement between Egypt and the UAE over $ 4.9 billion worth of aid for the North African country, Egyptian shares have ended higher on Sunday attaining gains totaled EGP 1.8 billion. The main gauge closed at 6194 points on Sunday.
The Egyptian Exchange indices were wavering in green notes Sunday afternoon.
Egypt’s benchmark index EGX30 ended 0.38 per cent higher to 6194.84 pts, and the EGX20 also finished 0.11 per cent up to 7278.58 pts.
Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.53 per cent to conclude at 517.35 pts. The price index EGX100 went up by 0.41 per cent to close at 868.56 pts.
The capital market has closed at EGP 400.998 billion on Sunday.
Through the closing session of Sunday, the trading volume has 165.535 million securities. For the traded value, it hit EGP 511.717 million, exchanged through 28.150 thousand transactions.
Also during the closing session, 183 listed securities have been traded in; 65 declined, 97 advanced; while 21 keeping their previous levels.
Arabs and the non-Arab foreigners were net buyers backing EGX’s closing gains as they acquired 8.23% and 5% respectively, of the total market, with net equities of EGP 1.440 million and EGP 1.797 million, excluding the deals.
On the other hand, Egyptians were net sellers seizing 86.77% of the total market, with a net equity of EGP 3.238 million, excluding the deals.
UAE Aid Package to Egypt
The United Arab Emirates signed an aid agreement with Egypt on Saturday worth $4.9 billion, in another show of support from the wealthy Gulf state to Egypt’s army-backed government.
The aid package includes a $1 billion grant already sent to Egypt in July, while the rest is fresh funds to support various sectors of the economy, the UAE’s state news agency said.
A total of $12 billion has been pledged in aid from Saudi Arabia, UAE and Kuwait since then.