Cairo – Mubasher: The Egyptian Exchange (EGX) started the mid-week trading session on a stronger note, backed by foreign purchases.
The benchmark index EGX30 gained 304 points, or 3.1%, to reach 10,157 points, the highest mark since June 2008, by 10:30am Cairo time.
The small and mid-cap EGX70 rose 1.81% to 377.6 points.
The broader index EGX100 and the equal-weighted index EGX50 were higher 2.7% and 2.4%, respectively.
Foreigners were net buyers by EGP 43.3 million, while nationals and Arab investors were net sellers by EGP 14.3 million and EGP 29 million.
Trading value stood at EGP 306 million after trading 119 million shares by 10:35am Cairo time.
The heaviest EGX stock was the most active trading value with EGP 56.9 million after 868,700 shares were traded. The stock rose 1.74%.
In terms of volume, Orascom Telecom was the top performer with 31.7 million traded at more than EGP 21 million. The stock quote was 1.54% higher.
Earlier, analysts told Mubasher that EGX is likely to witness correction movements before extending its upward run to the mark of 10,000 points
