Cairo – Mubasher: The Egyptian Exchange (EGX) indices advanced collectively on Wednesday, while the market capitalization gained EGP 3.6 billion.
The benchmark index EGX30 gained 1.09% or 64.03 points closing at 5,960.59 points.
“Egypt’s bourse has rebounded following the gains of the world markets, as well as the stability of the oil price above the level of $30 per barrel,” said Zayad Shata, Investors Relations Manager at Grande Holding.
“The long holiday of the Chinese market for three days in row, as of Tuesday 26 January, has contributed in pushing the Global markets higher, which will in its turn has positive impact on EGX,” added Shata.
The benchmark targets the levels of 6,050 and 6,100 points, subject that the heavy weigh Commercial International Bank surpasses its current price level of EGP 31.5, noted the analyst.
The small and mid-caps index EGX70 inched up 0.13% to 355.87 points, while the broader index EGX100 edged up 0.60% to 714 points.
The equal weighed index EGX50 advanced 1.15% to 1,088.96 points.
The market witnessed 202 million shares changed hands worth EGP 969 million, carried out through 24,000 transactions.
Local and Arab investors stepped in as net buyers with EGP 45.3 million and EGP 41.7 million respectively, while foreign came out as net sellers with EGP 87 million.
Retail investors ended as net buyers, while institutions ended as net sellers.
Out of 169 stocks traded today, advancers outnumbered decliners by 78 to 40 stocks , while 51 stocks remained unchanged.
