Cairo – Mubasher: The Egyptian Exchange (EGX) extended gains to the third consecutive day after the main index EGX30 closed Thursday 1.03% higher to 13,223.9 points.
The small and mid-cap EGX70 also rose 1.34% to 473.1 points.
The broader index EGX100 ended up 1.7% to 1,154.4 points and the equal-weighted index EGX50 increased 1.97% to 2,040.77 points.
Trading value reached EGP 1.9 billion after 522 million shares were traded.
EFG-Hermes topped trading values with EGP 256.2 million, finishing the session higher 1.1% to EGP 27.79 a share.
Foreigners were net buyers by EGP 111.6 million, while Egyptians and Arab were net sellers by EGP 95.6 million and EGP 16.02 million, respectively.
Market capitalizations gained EGP 7.5 billion to close at EGP 629.7 billion.
Unlike this green wave, the largest EGX30 constituent CIB decreased 1.5% to EGP 75.84, registering a turnover of EGP 97.6 million.
Meanwhile, TMG and Pioneers ended in the green area at EGP 9.6 and EGP 12.7 respectively.
The real momentum behind EGX gains lately has been foreign purchasing appetite for blue-chip stocks, said market analyst Saeed Al-Feky, clarifying that the CIB red closing on Thursday is a natural response after hitting a record level at EGP 77.79 per share.
A wave of profit-taking is likely to rise next week that could lead the main index lower to 12,600 points, Al Feky expected.
