Egyptian stocks have started a new week higher bolstered by the presidential announcement of the referendum date by January 14th and 15th to ratify the country’s new constitution. The stocks have gained EGP 2.1 by early trading on Sunday. The benchmark index started trading higher to approach 6680 points.
Egypt’s interim President Adly Mansour announced on Saturday a referendum is set to be held next month to ratify the country’s new constitution.
The scheduled January 14-15 vote is the first step on a roadmap back to democracy announced by the Egyptian military last July, following the ouster of Islamist President Mohamed Morsi.
The Egyptian Exchange’s indices were wavering in green notes during opening.
The Benchmark EGX30 climbed by 1.13% to 6679 p; while EGX20 also surged by 1.06% to 7726.18 p.
Additionally, the mid- and small-cap index, the EGX70 rose by 0.39% to 535.57 p. Price index EGX100 increased by 0.48% to 907.03 p.
The capital market has opened on Sunday at EGP 419.010 billion, 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 20.154 million securities worth EGP 67.358 million, exchanged through 3156 transactions during Sunday opening.
Also during the opening session, 120 listed securities have been traded in; 13 fell, 80 advanced; while 27 keeping their previous levels.
Investors’ Activities
The non-Arab foreigners and Arabs were net buyers seizing 4.39% and 5% respectively of the total markets, with a net equity of EGP 90.568 thousand million and EGP 2.591 million respectively, excluding the deals.
On the contrary, Egyptians were net sellers acquiring 90.61% of the total market, with a net equity of EGP 2.682 million, excluding the deals.
