By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) indices ended Monday in the green, buoyed by foreign and Arab buying.
The main EGX30 index jumped 1.16%, or 170.79 points, to 14,953.17 points.
The Commercial International Bank’s (CIB) stock increased 3.24%, closing at EGP 78.09 with a liquidity of EGP 197.9 million.
The EGX70 index edged up 0.02% to 832.49 points, while the EGX100 index rose 0.35% to 1,977.08 points.
The equal-weighted EGX50 index inched up 0.59% to 2,584 points.
The EGX regained its positive trend on Monday’s session, said Mohammed Al-Najjar head of research and investment in El Marwa For Securities & Brokerage.
The bourse’s market capitalisation gained EGP 6.7 billion, closing Monday at EGP 835.2 billion.
Recovering the positive trend impacted positively on liquidity which hit the levels of EGP 1 billion, Al-Najjar added, noting that the EGX30 index has support level at 14,800 points and the index is testing 15,000 points.
Al-Najjar expected that the liquidity will continue increasing on the EGX and the benchmark will target the level of 15,600 and 15,650 points in the first quarter of 2018.
The EGX’s trading volume stood at 235.5 million shares, through 27,800 transactions, generating EGP 1.25 billion.
Palm Hills Developments’ stock topped the bourse’s risers with 8.64%, followed by Abu Dhabi Islamic Bank’s (ADIB) stock with 6.34%, and Emaar Misr for Development’s stock with 5.11%.
On the flipside, the stocks of Egyptian Financial Group Hermes Holding (EFG Hermes), Ezz Steel, and Pioneers Holding Company for Financial Investment levelled down 6.04%, 2%, and 1.98%, respectively.
Egyptian investors were net sellers with EGP 317.3 million, while Foreign and Arab investors were net buyers with EGP 298.9 million and EGP 18.4 million, respectively.
Translated by: Mohamed Hesham Azab
