Shares in Egypt Open Higher As Deposed Morsi’s Trial Kicks off

Shares in Egypt opened higher on Monday coinciding with the start of the trial of the deposed president Mohamed Morsi. The shares gain EGP 543 million backed by local and Arab net buyers.

The benchmark index started higher to cross 6200 points on Monday.

The Egyptian Exchange’s indices were wavering in green notes during Monday opening.

The Benchmark EGX30 rose by 0.28% to 6204.32 p; while EGX20 advanced by 0.07% to 7237.6 p.

Meanwhile, the mid- and small-cap index, the EGX70 increased by 0.51% to 524 p.  Price index EGX100 hiked by 0.04% to 875.06 p. 

The capital market has reached EGP 403.891 billion on Monday, according to data compiled by Amwal Al Ghad English at 11:13 a.m. Cairo time (09:13 GMT).

Trading Volumes & Values

The trading volume has recorded 21.070 million securities worth EGP 69.121 million, exchanged through 2504 transactions during Sunday opening.

Also during the opening session, 106 listed securities have been traded in; 11 fell, 65 advanced; while 30 keeping their previous levels.

Investors’ Activities

Egyptians and Arabs were net buyers as they acquired 95.25% and 1.77% respectively of the total markets, with a net equity of EGP 2.844 million and EGP 662.836 thousand respectively, excluding the deals.

Meanwhile, the non-Arab foreigners were net sellers seizing 2.97% of the total market, with a net equity of EGP 3.506 million, excluding the deals.