Cairo – Mubasher: The Egyptian Stock Exchange (EGX) started the week in the green zone as the benchmark rose 0.94% to 6,136 points.
The equal weighted index EGX50 also increased 0.78% to 1,140 points. Likewise, the small and mid-cap EGX70 opened higher 0.48% to 351.6 points. The broader index EGX100 edged up 0.53% to 723 points.
Trading value reached EGP 47 million after 21 million shares were traded over 3,000 transactions.
Nationals were net buyers by EGP 1.1 million, while foreign and Arab investors were net sellers by EGP 486,000 and EGP 576,000 respectively.
The top advancers were led by Prime Holding (+9.96%), Sabaa International Company for Pharmaceutical and Chemical Industry (+9.89%), and Rakta Paper Manufacturing (+8.2%).
Meanwhile, the worst decliners were headed by Rubex International for Plastic and Acrylic Manufacturing (-1.55%), Union National Bank – Egypt (-1.12%), and Heliopolis Company for Housing and Development (-0.86%).
The bourse administration suspended trading on the stocks of OTMT and Beltone Financial Holding until receiving more details about OTMT’s acquisition of CI Capital via Beltone, namely sources of funding.
The benchmark is likely to test 6100 points this week and to move up to higher levels, said Sameh Gharib, financial analyst, adding that the main gauge is currently swinging from 5,500 points to 6,300 points.
Translated by Ahmed El-Sayed Ali
