Cairo - Mubasher: The Egyptian Exchange's (EGX) indices all rose this week which had only three trading sessions, while market cap increased by EGP 14.4 billion.
EGX was closed on Sunday 2 October as it marked the new Islamic year holiday, while Thursday is a national holiday to commemorate the 43rd anniversary of the 1973 war.
The benchmark index EGX30 had its biggest rise since the end of June, as it grew by 6.18% or 487.41 points to the level of 8,368.52 points.
This reflects the comeback of purchasing powers in blue chips trading, with some of these stocks reaching higher levels than those recently achieved, said Sameh Gharib, head of technical research at The Roots Stock Brokerage House.
EGX70 added 0.48% or 1.69 points, and closed at the level of 353.31 points.
The broader index EGX100 increased by 1.98% to 805.88 points, while the equal-weighted index EGX50 went up by 3.61% or 47.41 points closing at 1,358.94 points.
Meanwhile, the Egyptian bourse’s market cap increased by EGP 14.44 billion, closing at EGP 419.28 billion, compared to EGP 404.84 billion last week.
Total traded volume decreased this week to EGP 2.4 billion from EGP 2.9 billion in the week before, while turnover increased to 597 million shares compared to 588 million last week.
Egyptian investors dominated 68.17% of this week’s trade, while foreign and Arab investors registered 20.86%, and 10.43% respectively.
Arab and foreign investors netted EGP 1.47 billion and EGP 727.5 million, while Egyptian investors were net buyers at EGP 2.2 billion.
Orascom Telecom was the most active stock this week with 115.6 million shares traded at a turnover of EGP 64.3 million, followed by Palm Hills and Citadel.
The real estate sector led the sectors in terms of traded volume with 160.9 million shares, followed by telecom with 157.5 million shares and financial services with 134.2 million shares.
