Cairo – Mubasher: EGX indices initiated mid-week trading session on a stronger note.

By 10:26am Cairo time, the main index edged up 30 points, or 0.45%, to reach 6,935 points.

The small and mid-cap index moved up by 0.75% to 344.4 points.

Likewise, the broader index EGX100 opened 0.64% higher to 731.7 points.

CIB, the largest EGX30 constituent, rose 0.42% to EGP 40.07 with a market turnover of EGP 1.4 million by 10:25am Cairo time.

Trading value reached EGP 25.1 million after 10.9 million shares were traded by 10:29am Cairo time.

Nationals and Arab investors were net buyers by EGP 37,900 and 171,000 respectively, while foreigners were net sellers by EGP 209,000.

Analysts expected EGX to swing into the 7,080 – 6,750 area on the short term and to further see an upward correction if holding above 6,831 points, said analysts.

Yesterday, the main index EGX30 edged up 0.8%, or 52.2 points, to the mark of 6,903.81 points, relatively recovering from the shock of Brexit that led the benchmark index to the steepest decline since mid-January 2015 after shedding 5.54%, or 401.70 points, to the mark of 6,851.61 points on Sunday.