Cairo – Mubasher: The Egyptian Exchange (EGX) opened Monday in the green, backed by foreign and Arab investors buying.
By 10:30 am Cairo time, the main index EGX30 increased 0.02%, or 2.42 points, to 14,416.67 points.
The EGX70 index inched up 0.33% to 779.9 points, while the EGX100 index edged up 0.23%, reaching 1,837.81 points.
The equal-weighted EGX50 index rose 0.44% to 2,530 points.
Trading volume on stocks amounted to 18.07 million shares, through 2,900 transactions, with a turnover of EGP 79.7 million.
Egyptian investors were net sellers with EGP 769,200, while foreign and Arab investors were net buyers with EGP 427,600, and EGP 341,300, respectively.
The Commercial International Bank’s (CIB) stock inched down 0.72%, reaching EGP 72.72, with a trading value of EGP 2.4 million.
Arab Cotton Ginning’s stocks topped risers with 3.7%, followed by Abu Dhabi Islamic Bank’s - Egypt (ADIB) stock with 2.14%, and Orascom Telecom Media and Technology’s stock with 1.37%.
The stocks of Sidi Kerir Petrochemicals (Sidpec), Ezz Steel, and Talaat Moustafa Group Holding’s (TMG Holding) went down 1.96%, 0.88%, and 0.79%, respectively.
The EGX’s positive performance is expected to continue during the coming sessions, in line with attracting further liquidity, and after trading started on Ibn Sina Pharma’s shares, analysts told Mubasher.
