Cairo – Mubasher: The Egyptian Exchange (EGX) closed on positive territory on Thursday, as the benchmark index EGX 30 added 1.04% or 86.2 points to close at 8,377.71 points.
Egypt equities’ gains followed the news that Egypt reached an initial agreement with IMF to obtain a 3-years $12 million loan.
“The news about the IMF accord had a direct positive impact on the market sentiment,” said Hesham Hassan, technical analyst.
“The benchmark succeeded in surpassing the level of 8,000 points, that is alike the bottleneck, which paves its way towards the level of 8,600 points on the medium term,” noted the analyst.
The market capitalization shed EGP 1.3 billion ($147.4 million) reaching EGP 418.64 billion compared with EGP 419.95 billion at the previous session.
The index’s top performers were TMG Holding, up 2.4%, Elsewedy Electric, up 2.3%, and GB Auto, up 2.0%.
On the flip side, the worst performers were Domty, down 4.9%, Porto Group, down 3.3%, and OTMT, down 3.2%.
The small and medium – caps index EGX70 added 0.34% to 363.39 points, while the broader index EGX100 gained 0.46% to 806.66 points.
The market witnessed 356.7 million shares changed hands worth EGP 861 million executed through 26,000 transactions.
Out of 169 stocks traded today, decliners outnumbered gainers by 80 to 60, while 29 stocks remained unchanged.
Local and Arab investors came as net buyers with EGP 50 million and EGP 7.3 million respectively, while foreign ended as net sellers with EGP 57.3 million.
