By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session higher after a series of sideways movements following the Central Bank of Egypt’s (CBE) decision to lower interest rates by 1.5%.
The benchmark EGX30 index rose by 321 points, or 2.18%, to close at 14,595 points.
The small- and mid-cap EGX70 index went up 1.29% to 551 points, while the broader EGX100 index increased by 1.43% to 1,447 points.
The heavyweight Commercial International Bank (CIB) climbed 4.34% to EGP 78.9.
Heliopolis Company for Housing and Development was the top gainer among blue chips, while Abu Dhabi Islamic Bank – Egypt advanced by 4.14%.
Trading volume reached 192.3 million shares exchanged at a turnover of EGP 1.01 billion through around 23,900 transactions.
Egyptian investors were net sellers with EGP 421.7 million, while foreign and Arab investors were net buyers with EGP 361.18 million and EGP 60.5 million, respectively.
Market capitalisation gained EGP 9.8 billion to EGP 762.9 billion.
