By: Heba El Kordy
Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices grew during April, as the benchmark index, EGX30, recorded its eighth monthly successive increase, amid high demand from foreign investors.
Over the month, EGX30 added 845.42 points, or 4.84%, to close at 18,295.57 points, with 6.9 billion traded shares and a turnover of EGP 26.3 billion.
Commercial International Bank (CIB) surged 5.44% to EGP 93.85.
Market capitalisation reached EGP 1.006 trillion in April versus EGP 974.17 billion a month earlier.
EGX70 for small and medium-sized enterprises gained 0.71% to 877.19 points, while EGX100 soared 3.06% to 2,306 points.
The equally-weighted index EGX50 went up 3.42% to 3,088 points.
Egyptians were mostly sellers, with total sales of EGP 3.7 billion, while foreigners and Arabs were mostly buyers, with total purchases of EGP 3.48 billion and EGP 295.5 million, respectively.
The benchmark index will grow in the medium- and the short-run pushed up by the positive indicators of the national economy and the planned government initial public offerings (IPOs) programme, Rania Yacoub, chairperson of 3Way Finance told Mubasher.
The real estate, petrochemicals, and telecommunications sectors are expected to attract more liquidity in the coming period, Yacoub added.
Translated by: Muhammad Khalid
