Cairo – Mubasher: The Egyptian Exchange (EGX) opened Thursday up on the back of Arab investors’ buying.
By 10:17 am Cairo time, the benchmark EGX30 index gained 0.49%, or 73.8 points, to 15,272.
The heavyweight Commercial International Bank (CIB) added 0.55% to EGP 78.4 with a turnover of EGP 1.4 million.
The EGX70 index edged up 0.54% to 854.83 points, while the EGX100 index went up 0.6% to 2,031 points.
The equal-weighted EGX50 index levelled up 0.66% to 1,732 points.
Trading volume stood at about 33.6 million shares exchanged at a turnover of EGP 101.11 million through 2,500 transactions.
Arab investors were net buyers with EGP 3.5 million, while foreign and Egyptian were net sellers with EGP 722,100 and EGP 2.8 million respectively.
The wave of profit-taking faced by the EGX is expected to end on Thursday, as the stock market is likely to maintain the positive trend and move towards 15,300 points, analysts told Mubasher.
