Cairo – Mubasher: The Egyptian Stock Exchange (EGX) saw gains in the week ended 9 March 2017, backed by purchases of foreign investors.
The EGX30 rose 4.4% or 542.7 points to reach 12,853.27 points.
The market saw trading of 1.06 billion shares, with a turnover of EGP 4.9 billion.
The market’s gains were backed by the increase in the dollar's value against the EGP, in addition to strong purchases by foreigners to make up for some of their losses, according to Mohamed Al Dishnawi, CEO of the Roots Stock Brokerage House.
The EGX 70 rose 8.73% or 41.6 points to reach 518.6 points this week, while the EGX 50 went up 7.21% to 1,234.9 points.
Foreign investors tended to make net purchases worth EGP 220 million, while Egyptian and Arab traders carried out sales worth EGP 93.7 million and EGP 127.3 million respectively.
Commercial International Bank – Egypt (CIB) rose 3.75% to EGP 76.51, with a turnover of EGP 349.
