Saying Hello To 2013, EGX Opening Gains Hit EGP 1.6 Bln

During Wednesday’s opening session, the Egyptian Exchange (EGX) is welcoming the new year through posting gains of EGP 1.6 billion backed by local and Arab buying transactions. The capital market has amounted to EGP 377.256 billion, according to data compiled by Amwal Al Ghad at 10:57 a.m. Cairo time (08:57 GMT).

The EGX indices were in green during the opening session.

It is worth noting that the EGX management has decided to halt its trading session on Tuesday on the occasion of the new year. The banks have also halted their businesses and resumed on Wednesday.

The main index, EGX30 inched up by 0.76% to 5503.75 p. EGX20 climbed by 1.13% to 6413.53 p.

Meanwhile, the mid- and small-cap index, the EGX70 rose by 0.54% to 479.65 p.  Price index EGX100 went up by 0.57% to 804.89 p.

This was after trading in 81 listed securities; 2 declined, 55 advanced; while 24 keeping their previous levels.

Egyptians as well as Arabs’ opening buying transactions have backed EGX’s gains as they were net buyers seizing 77.42% and 21.37%  respectively, of the total markets, with a net equity of EGP 119.756 thousand and EGP 292.955 thousand, excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers seizing 1.21% of the total markets, with a net equity of EGP 412.710 thousand excluding the deals.