Stocks in Egypt Halt 3-day Loss Streak at Open, EGX30 Crosses 8200

Egypt’s stocks opened higher on Wednesday, halting a 3-day loss streak powered by local and non-Arab foreign buying appetite. Stocks gained 1.7 billion Egyptian pounds; whereas the main stock index, EGX30 surged at early trade exceeding 8200 points.

The Egyptian Exchange indices were wavering on green notes during the opening trading session on Wednesday.

The Benchmark EGX30 inched up by 0.65% to 8202.98 p, and EGX20 increased by 0.57% to 9778.67 p.

Meanwhile, the mid- and small-cap index, the EGX70 grew by 0.40% to 605.82 p. Price index EGX100 rose by 0.39% to 1059.7 p.

Furthermore, market capitalization reached EGP 476.186 billion, according to data compiled by Amwal Al Ghad English at 11:11 a.m. Cairo time (09:11 GMT).

Trading Volumes & Values

The trading volume has recorded 22.530 million securities worth EGP 57.973 million, exchanged through 2370 transactions during Wednesday opening.

Also during the opening session, 88 listed securities have been traded in; 9 fell, 51 advanced; while 28 keeping their previous levels.

Investors’ Activities

Egyptian and the non-Arab foreign investors were net buyers at opening trade on Wednesday capturing 88.63% and 3.94% respectively of the total markets, with a net equity of EGP 3.790 million and EGP 2.017 million respectively, excluding the deals.

On the other hand, Arab investors were net sellers seizing 7.42% of the total market, with a net equity of EGP 5.808 million, excluding the deals.