Cairo – Mubasher: The Egyptian Exchange (EGX) started Thursday on a stronger note backed by foreign and national buying appetite.
The benchmark index EGX30 leapt 246 points or 2.24% to 11,243 points by 10:30am CLT.
Blue-chip stocks backed the early positive performance, including CIB, Global Telecom, Amer Group, Juhayna, Hermes, Qalaa, Elsewedy, Oriental Weavers, GB Auto, Palm Hills, and OTMT after rising with a 1-10% range at open.
Meanwhile, Misr Cement and Edita slide 0.42% and 0.44%, respectively.
The small and mid-cap index EGX70 increased 0.96% to 433 points.
The broader index EGX100 and the equal-weighted index EGX50 were higher 1.01% and 1.5%, respectively.
National and foreign investors were net buyers by EGP 41.7 million and EGP 6.9 million, while Arabs were net sellers by EGP 48.6 million.
Trading value reached EGP 432 million after 150.5 million shares were traded.
Market analyst Ayman Fouda expected EGX to deliver a positive performance today and the main index is likely to face resistance at the 11,029-400 zone while having support at 10,688-225 area.
