Cairo – Mubasher: The Egyptian Exchange initiated Monday’s trading session in the green zone backed by Arab and foreign investors’ buying activities amid increasing speculation on the pound’s devaluation.

By 10:30am Cairo time, the main index EGX30 rose 177.5 points, or 2.25%, to reach 8,058.6 points.

The small and mid-cap index EGX70 was higher 0.6% to 353.7 points.

Likewise, the broader index EGX100 and the equal-weighted index EGX50 increased by 0.8% and 1.9%, respectively.

Arab and foreign investors were net buyers by EGP 7.1 million and EGP 1.6 million, while Egyptian investors were net sellers by EGP 8.7 million.

Beltone was the top gainer with a 9.96% rise, while Alexandria Container was the worst performer with a 4.2% slide.

CIB was the most active stock in terms of value after registering EGP 24.4 million for 497 shares changing hands. The stock quote was 2.7% higher.

In terms of volume, Orascom Telecom was the strongest performer after 15.4 million shares were traded at more than EGP 8.4 million. The stock quote was 1.9% up.  

MubasherTrade Research earlier said that the benchmark index is currently facing the 7,770-7,700 support zone, assuring that the index “will likely hinder the current retreat”.