Cairo – Mubasher: The Egyptian Exchange initiated Monday on a stronger note amid robust purchasing tendency by foreign investors.
At 10:10am Cairo time, the main index rose 0.61% to 7, 563 points. Likewise, the equal-weighted EGX50 moved up by 1.73% to 1,490 points. The small and mid-cap EGX70 opened 0.56% higher to 382 points. The broader index EGX100 was 0.42% up to 806 points.
Foreign investors were net buyers by EGP6.8 million, while nationals and Arabs were net sellers by EGP5.8 million and 994,000 respectively.
With 22 million shares changing hands over 1,500 transactions, the bourse recorded a trading value of EGP44 million.
The top gainers were Saudi Egyptian Investment and Finance, Beltone Financial, and South Valley Cement with a rise of 10%, 9.98%, and 5.7% respectively.
On the flip side, Edita (-7.3%), Elsewedy Electric (-6%), and OHD (-6%) were the top losers in early trade.
This morning, analyst said the Egyptian Exchange’s next target is contingent on breaking the mark of 7,600 and 7,700, regarding any effects on EGX due to Doha output talks’ failure improbable.
