Foreigners recorded net sales on the Egyptian Stock Exchange amounting to EGP 208.3 million, while Arabs recorded net purchases of EGP 29 million.
Egyptian investors accounted for 82.2% of total transactions on listed stocks on the Egyptian Stock Exchange during the past week, while foreigners held 8.7% and Arabs had 9.2%, after excluding deals, according to the weekly report from the Egyptian Stock Exchange.
Foreigners recorded net sales on the Egyptian Stock Exchange amounting to EGP 208.3 million, while Arabs recorded net purchases of EGP 29 million, after excluding deals.
Egyptian transactions represented 82.8% of the value of trading in listed stocks since the beginning of the year, after excluding deals, while foreigners recorded 8.8% and Arabs recorded 8.4%. Foreigners recorded net sales on the Egyptian Stock Exchange since the beginning of the year amounting to EGP 5.501 billion, while Arabs continued to record net purchases of approximately EGP 1.729 billion, all on listed stocks after excluding deals since the beginning of the year.
During the past week, the main index of the Egyptian Stock Exchange, the "EGX 30," rose by 5.76% to close at 17,671.27 points. The small and medium-sized stock index, the "EGX 70 Equal Weighted Index," rose by 0.82% to close at 2,969.83 points. The "EGX 100 Equal Weighted Index" increased by 1.48% to close at 4,485.55 points, and the "EGX 30 Capped Index" rose by 3.81% to close at 20,683.12 points.
The market capitalization of the Egyptian Stock Exchange gained about EGP 39.3 billion during the past week to close at EGP 1.114 trillion, a growth rate of 3.6%.
Moreover, market capitalization of the main index increased from EGP 656.9 billion to EGP 692.5 billion, a growth rate of 5.4%, while the market capitalization of the small and medium-sized stock index rose from EGP 202.6 billion to EGP 207.2 billion, a growth rate of 2.3%.
It is pertinent to mention that the Egyptian government is undertaking various initiatives to attract more foreign investment, such as reducing bureaucracy, reforming the tax system, and expanding the renewable energy sector.
The International Monetary Fund (IMF) recently praised Egypt's economic performance and supported its reform program, which has helped to improve the business environment and increase foreign investment.
