Local purchases drive the stock market to a 0.9% increase at midday
The stock market indices rose during the midday session on Sunday, driven by individual Egyptian purchases amounting to 59.7 million Egyptian pounds.
The main stock index, EGX30, increased by 0.90% to reach a level of 24,913 points, while the EGX70 EWI index rose by 0.42% to reach 5,485 points.
The broader EGX100 index also rose by 0.51% to reach a level of 7,894 points. Additionally, the EGX30 Capped index recorded an increase of 1.08%, reaching a level of 30,198 points.
The market witnessed a trading value of 1.5 billion Egyptian pounds, with the trading of 437.3 million shares through the execution of 66.2 thousand buying and selling transactions. Trading occurred in shares of 201 listed companies. During the midday session, 81 stocks increased, with the International Company for Agricultural Crops showing the highest increase at 12.4%, followed by Egypt for Fertilizers Production (MOPCO) with a 10.1% increase.
The prices of 40 stocks decreased, with M.M Group for Industry and International Trade experiencing the highest decline at approximately 5.7%, followed by Arab Cotton Ginning and Textile – Yuni Rapar with a 5.1% decrease. The prices of 80 stocks remained unchanged, and the market capitalization recorded 1.7 trillion Egyptian pounds.
Net transactions by Egyptian and foreign investors leaned towards buying with net transactions of around 4.3 million Egyptian pounds and 15.3 million Egyptian pounds, constituting 95.8% and 0.64%, respectively. On the other hand, Arab investors inclined towards selling with a net transaction of around 19.6 million Egyptian pounds, representing 3.6% of the total.
Individuals accounted for 80.9% of the transactions, leaning towards selling. Arab and foreign investors recorded a net sale of 25.9 million Egyptian pounds and 407.5 thousand pounds, while Egyptians recorded a net purchase of 59.7 million Egyptian pounds.
Institutions accounted for 19.1% of the transactions, leaning towards buying. Arab and foreign institutions recorded a net purchase of 6.2 million Egyptian pounds and 15.7 million Egyptian pounds, while local institutions leaned towards selling with a value of 55.4 million Egyptian pounds.
