Egyptian stocks closed higher on Wednesday backed by the state of relative calmness following the first session in deposed president Mohamed Morsi's trial. Stocks posted closing gains totaled around EGP 10 billion backed by the non-Arab net buyers. Benchmark index ended above 6370 points, the highest since January 26th, 2011 when the index reached 6310 points. The trial of ousted president Mohamed Morsi had started on Monday at the Police Academy on the outskirts of Cairo, but the judge decided to adjourned the trial until January 8th; the ousted Egyptian president sent to Borg Al-Arab prison. The Egyptian Exchange indices were blooming on green notes on Wednesday afternoon. Egypt's benchmark index EGX30 ended 2.38 per cent higher to 6370.63 pts, and the EGX20 also finished 2.44 per cent up to 7452.82 pts. Meanwhile, the mid- and small-cap index, the EGX70 inched up by 2.82 per cent to conclude at 538.38 pts. The price index EGX100 surged by 2.42 per cent to close at 896.77 pts. The capital market has closed at EGP 414.353 billion on Wednesday, the highest since June 20th, 2011 of 415.5 billion. Turnovers Skyrocket Through the closing session of Wednesday, the trading volume has 941.714 million securities. For the traded value, it hit EGP 257.127 million, exchanged through 37.203 thousand transactions. Also during the closing session, 185 listed securities have been traded in; 26 declined, 145 advanced; while 14 keeping their previous levels. Investors' Activity the non-Arab foreigners were net buyers propelling EGX's closing gains for they seized 17.13% of the total market, with a net equity of EGP 32.938 million, excluding the deals. On the other hand, Egyptians and Arabs were net sellers acquiring 71.42% and 11.45% respectively, of the total market, with net equities of EGP 7.136 million and EGP 25.802 million, excluding the deals.
