Cairo – Mubasher: EGX indices collectively initiated mid-week trading session in the green zone, backed by the purchases of Arab and foreign investors.
At 10:45am Cairo time, the benchmark rose 116 points to settle at the level of 7,859 points.
EGX30 is likely to test the area swinging between 8,275 – 8,300 points by the end of this week, said Hoda Menshawy, stock market analyst, adding that the main index, if breaking above the mark of 7,716 points, is likely to keep moving upwardly on the medium and short run, targeting a higher mark in the coming two weeks.
On the positive note, the equal-weighted index EGX50 opened 1.55% higher to 1,492 points. The small and mid-cap EGX70 went up by 0.77% to 381 points. The broader index EGX100 was up 0.28% to 806 points.
With 48 million shares changing hands over 5,500 transactions, trading value reached EGP192 million.
Foreign and Arab investors were net buyers by EGP16.9 million and EGP11.3 million respectively, while Nationals were net sellers by EGP28.2 million.
The top gainers were Beltone Financial (+9.98%), Arab Pharmaceuticals (+9.90%), and El Nasr For Manufacturing Agricultural Crops (+8.48%).
Meanwhile, the top losers were Kafr El Zayat Pesticides, Telecom Egypt, and Oriental Weavers registering a decline of 10.31%, 7.65%, and 5.82% respectively at 10:45am Cairo time.
