Backed by the beginning of vote on the final draft of Egypt’s new constitution by the constitutional panel, Egyptian stocks have started this month higher posting closing gains on Sunday totaled EGP 3.5 billion. The benchmark index closed above 6265 points on Sunday.
Lawmakers have started on Saturday voting on the final draft of Egypt’s new constitution to mark a major step in the country’s roadmap. Achieving political stability shall reflect positively on Egypt’s economy in general and the stock market in particular.
The Egyptian Exchange indices started the month on the green notes Sunday afternoon.
Egypt’s benchmark index EGX30 ended1.35 per cent higher to 6267.88 pts, and EGX20 also finished 1.33 per cent up to 7330.66 pts.
Meanwhile, the mid- and small-cap index, the EGX70 surged by 0.63 per cent to conclude at 521.87 pts. The price index EGX100 grew by 0.66 per cent to close at 872.62 pts.
The capital market has closed at EGP 406.462 billion on Sunday afternoon.
Turnovers
Through the closing session of Sunday, the trading volume has reached 88.516 million securities. For the traded value, it hit EGP 237.689 million, exchanged through 14.438 thousand transactions.
Also during the closing session, 171 listed securities have been traded in; 30 declined, 125 advanced; while 16 keeping their previous levels.
Investors’ Activity
Egyptians were net buyers acquiring 95.3% of the total market, with a net equity of EGP 13.462 million, excluding the deals.
On the other hand, the non-Arab foreigners and Arabs were net sellers capturing 1.62% and 3.08% respectively, of the total market, with net equities of EGP 1.782 million and EGP 11.680 million, excluding the deals.
