Cairo – Mubasher: The Egyptian Exchange (EGX) indices advanced collectively on Tuesday, as the benchmark index EGX30 advanced 2.63% or 156.26 points to close at 6,097.45 points on Arab investors buying spree.
“The benchmark index EGX30 will target the level of 6,300 points, after it moved above the level of 6,000 points through today’s session,” said Sameh Gharib, head of technical research at Roots Securities.
The market may see profit taking operations at the current levels, noted Gharib.
The small and mid-cap index EGX70 advanced 3.74% to 354.41 points, while the broader index EGX100 leaped 2.32% to 711.23 points.
Similarly, the equal –weigh index EGX50 surged 3.69% to 1,082.27 points.
The market capitalization gained EGP 6.5 billion ($831 million) reaching EGP 392.76 billion.
Tuesday’s market total turnover reached EGP 2.2 billion, upon trading 378.4 million shares through carrying out 24,400 transactions.
Foreign and local investors came out as net sellers with EGP 46.2 million and 1.5 million respectively while Arab investors stepped in as net buyers with EGP 47.7 million.
Institutions came as net sellers, while retail investors ended as net buyers.
Out of 167 stocks traded today, advancers outnumbered decliners by 128 to 9, while 30 stocks remained unchanged.
