Cairo – Mubasher: The Egyptian Stock Exchange closed Thursday’s session on a stronger note.
The main benchmark EGX30 rose 0.44% or 26 points to 5,986.78 points, powered by retail and Arab institutions’ buying. It extended a rally to the third successive session.
Market capitalisation increased by EGP1.8 billion ($227.2 million), ending the session at EGP391.3 billion, compared to EGP389.5 billion yesterday.
In spite of today’s rise, the main index was mostly moving sideways, which is a trend expected to continue due to the foggy economic outlook, said Ahmed Thabet, analyst at Tycoon Securities.
The equal-weighted index EGX50 rose by 0.92% to 1,099.03 points while the broader index EGX100 ended 0.12% higher at 714.89 points. The small and mid-cap index EGX70 stayed unchanged at 355.87 points.
Trading volume reached 165.4 million shares exchanged at a turnover of EGP394.6 million, while the total trading volume recorded 166.6 million shares worth EGP729.3 million over 20,900 transactions.
Nationals and Arabs were net buyers by EGP18.4 million and EGP9.3 million respectivley, while foreign investors were net sellers by EGP27.7 million.
Today, 170 companies were traded with 81 rising, 47 dropping, and 42 remaining unchanged.
