Cairo – Mubasher: The Egyptian Exchange finished Thursday’s trading session in the green zone on the purchases of Arab and foreign investors after the Ministry of finance postponed capital gains tax.
The green end of most EGX stocks drove market capitalization higher to EGP407.080 billion against EGP401.542 billion yesterday.
The benchmark gained 105.05 points, or 1.41%, to level up at 7,547.49 points.
CIB, the largest EGX30 constituent, registered a turnover of EGP116.346 million, which is the highest after 2.659 million shares were traded, thus ending the session 0.14% lower to EGP43.50.
The small and mid-cap EGX70 added 2.18 points, or 0.6%, to reach 368.01 points.
The broader index EGX100 rose 1.35% to the mark of 777.85 points.
With 162.656 million shares changing hands in 20,648 transactions, trading value reached EGP526 million.
Nationals were net sellers by EGP12.04 million, while foreign and Arab investors were net buyers by EGP653,727 and EGP1.922 million respectively.
The advancers were led by Edita, Minapharm Pharmaceuticals, AJWA for Food Industries, and Zahraa Maadi Investment with a rise of 9.41%, 7.27%, 6.86%, and 6.57% correspondingly.
On the negative note, Golden Textiles, Egypt Aluminum, Arab Pharmaceuticals, and Extracted Oils fell by 7.17%, 5.60%, 5.28%, and 4.44%.
Earlier, the Ministry of finance said the postponement of capital gains tax on the Egyptian Exchange (EGX) will remain in effect until its end date on 17 May 2017.
Translated by Ahmed El-Sayed Ali
