Cairo – Mubasher: The Egyptian Exchange (EGX) started Sunday's trading session on a stronger note.
The main index EGX30 leaped 2.47% or 264 points to stand at 10,952 points by 10:40am Cairo local time.
The small and mid-cap index rose 2.17% to 412.3 points.
The broader index EGX100 opened higher 1.77% to 998.4 points and the equal-weighted index EGX50 increased 2.64% to 1,656.2 points.
Foreigners were net buyers EGP 62.9 million, while Egyptians and Arabs were net sellers by EGP 25.6 million and EGP 37.3 million respectively.
Trading value reached EGP 493 million after 241.5 million shares were traded.
Out 149 traded stocks, 107 were up, 19 down, and 23 stayed unchanged.
The benchmark index EGX30 will likely test the 11,000 area on Sunday while having support at 10,200 points, said market analyst Sameh Ghareeb.
The trading atmosphere is likely to be encouraging as investors' sentiments are bolstered by a number of positive data, including the approval of IMF $12 billion loan and S&P outlook that is changed from negative to stable, Ghareeb highlighted, expecting a wave of corrective profit-taking to occur.
