As Egyptian presidential runoff results will be announced today at 13:00 GMT (3:00 p.m. local time) according to the Higher Presidential Election Commission (HPEC), the Egyptian Exchange (EGX) had posted early gains amounted to EGP 1.216 billion the capital market has reached EGP 304.229 billion according to data compiled by Amwal Al Ghad as of 9:14 GMT (1:14 local time).
The results of Egypt’s presidential run-off have been delayed by the election authorities, further raising tension across the polarized country.
The presidential runoff results had been due to be announced on Thursday June 21st, but the HPEC said it needed more time to look into complaints presented by the candidates; Mohamed Morsi and Ahmed Shafiq.
The main index, EGX30 inched higher 0.55% to hit 4053.65 p. EGX20 climbed 1.37% to reach 4617.28 p.
Meanwhile, the mid- and small-cap index, the EGX70 went up 0.28% to hit 374.45 p. Price index EGX100 edged up 0.29% to reach 634.59 p.
Traded volume reached 10.848 million securities worth EGP 21.634 million, exchanged through 1.508 thousand transactions.
This was after trading in 67 listed securities; 8 declined and 48 advanced while 11 keeping their previous levels.
Egyptians and Arabs were net buyers seizing 97.72% and 0.95% respectively, of the total markets, with a net equity of EGP 1.866 million and EGP 1.671 thousand excluding the deals.
On the other hand, the non-Arab Foreigners were net sellers seizing 1.33% of the total markets, with a net equity of EGP 3.537 million excluding the deals
EGX’s leading shares witnessed collective upwards led by shares of Orascom Telecom Media & Technology Holding (OTMT.CA) which climbed 3.08% to hit EGP 1.34. Shares owned by Shares of Orascom Telecom Holding (OTH) (ORTE.CA) jumped 2.64% to reach EGP 2.72. Shares of EFG-Hermes Holding (HRHO.CA) inched higher 2.32% reach EGP 9.26.
Additionally, shares of Commercial International Bank- Egypt (CIB) (COMI.CA) went up 1.67% to hit EGP 21.94. Shares owned by Orascom Construction Industries (OCIC.CA) edged up 1.31% to reach EGP 219.00.
