Stocks Mostly Lower on Wednesday, but EGX30 Remains Bullish above 9575

Egypt’s bourse closed higher on Wednesday with gains totaling 1.35 billion Egyptian pounds powered by local and non-Arab foreign investors’ buying appetite. In addition, the country’s main stock index, EGX30 solely advanced to cross 9575 points.

Yet, Egyptian Exchange’s indices were wavering mostly on red notes during the closing session of Wednesday.

Indices

Egypt’s benchmark index EGX30 ended 0.43 per cent higher to 9575.39 pts; while EGX20 finished 0.07 per cent down to 11342.05 pts.

Meanwhile, the mid- and small-cap index, the EGX70 dropped by 0.50 per cent to finish at 625.56 pts. The price index EGX100 also tumbled by 0.12 per cent to conclude at 1136.98 pts.  
Furthermore, the market capitalization recorded EGP 521.905 billion on Wednesday.

Turnovers Still below EGP One billion
Through the closing session of Wednesday, the trading volume has reached 98.182 million securities, with turnovers worth EGP 722.251 million, exchanged through 18.149 transactions.               
Also during the closing session, 171 listed securities have been traded in; 90 declined, 54 advanced; while 23 kept their previous levels.

Investors’ Activities

Local and the non-Arab foreign investors were net buyers on Wednesday acquiring 77.96% and 16.31% respectively of the total markets, with a net equity of EGP 23.931 million and EGP 6.681 million, respectively, excluding the deals.

On the other hand, Arab investors were net sellers seizing 5.73% of the total market, with a net equity of EGP 30.612 million, excluding the deals.