Cairo – Mubasher: The Egyptian Exchange started Monday on a higher note as the benchmark index EGX30 rose 1% by 10:40am CLT.
This rise was driven by the green start of telecom, banking and real estate sectors, along with foreign purchases.
Foreigners were net buyers by EGP 7 million approximately.
Development and Engineering Consultants led the real estate gainers with a 5% rise, followed by Talaat Moustafa, Palm Hills, and Emaar that saw a 1.5-9% increase.
The CIB, Orascom Telecom, and Telecom Egypt were higher by 1.4%, 3.6%, and 2.8%, respectively.
Trading value reached EGP 290 million after 63 million shares were traded in 6,600 transactions.
Analyst earlier said that the bourse is likely to move sideways on Monday, expecting profit-taking to come to an end.
The Egyptian Exchange (EGX) indices declined collectively on Sunday amid selling pressures by local and Arab investors.
The benchmark index EGX30 went down 1.82% or 207 points to close at 11,145.9 points.
