By Ahmed Allam
Cairo – Mubasher: The Egyptian Exchange indices rose collectively on Sunday, as the main index reversed its early jittery decline to shut 0.86% or 58.14 points higher at 6,837.42 points, which is its highest level in one month.
Pioneers stock jumped by 2.69% to EGP 6.86, with a turnover reaching more than EGP 11.3 million after 1.6 million shares in the company were exchanged in 619 trades. The stock was fueled by the company’s buyout offer for Universal for Packaging.
CIB, the heaviest weight on the index, snapped its early decline, shutting 0.61% higher at EGP 46.22.
EFG-Hermes stock was the top active in terms of liquidity for the third successive day, with EGP 96.2 million generated from trading 11.6 million shares in 1,200 transactions. The stock rose by 2.56% to EGP 8.29.
Global Telecom stock also surged by 9.9% to EGP 2.04, while PHD, OTMT, SODIC, Qalaa and TMG rose by between 6.8% and 1.5%.
Market capitalisation added around EGP 1.95 billion ($249.5 million), backed by the buying spree among Arab trades and national institutions, to reach EGP 430.52 billion.
EGX70 advanced by 1.52% to 368.43 points, while the broader index EGX100 ended 0.83% higher at 777.15 points and the equal-weighted index EGX50 gained 1.34% to 1,155.75 points.
Total traded value reached EGP 739 million, while traded volume reached 287 million shares.
National and Arab traders were net buyers by EGP 117.3 million and EGP 9.2 million respectively, while foreign traders were net sellers by EGP 126.5 million.
Out of the 184 companies traded today, advancers outnumbered decliners by 103 to 47, while 34 others remained unchanged.
Translated by Sayed Abdel Rahman
