Egypt Market Watch | Nov 23 2016: Egypt’s bourse closes on positive note

Cairo (Capital Markets in Africa) – The Egyptian Exchange (EGX) indices moved higher collectively to close on a positive note on Wednesday, while the market capitalization added EGP 4.8 billion amid buying activity by foreign investors.

The benchmark index EGX30 added 0.26% or 30.51 points to close at 11,550.1 points.

The small and medium caps index EGX70 went up 1.71% to close at 445.9 points, while the broader index EGX100 added 1.71% to close at 1,062.85 points.

The equal weighted index EGX50 inched up 0.44% to end at 1,816.06 points.

The market capitalization gained EGP 4.8 billion reaching EGP 566.4 billion, up from EGP 561.6 billion in the previous session.

Foreign investors were net buyers with EGP 132.2 million, while local and Arab investors were net sellers with EGP 77.1 million and EGP 55.1 million respectively.

The market witnessed 434.4 million shares changed hands worth EGP 1.7 million.

Out of 192 stocks traded today, advancers outnumbered decliners by 103 to 57, while 32 stocks remained unchanged.

Today’s top gainers included Heliopolis Housing, and Ezz Steel both surged 10.0%, and Global Telecom which jumped 2.5%. On the downside, today’s worst performing stocks were: Porto Group, down 3.0%, Amer Group, down 2.9%, and Domty, down 2.5%.