Cairo – Mubasher: The Egyptian Stock Exchange (EGX) witnessed gains in the week ended 17 November.
The EGX 30 rose 4.99% or 533.4 points to reach 11,221.56 points.
The EGX 70 increased 6.14% or 24.79 points to reach 428.3 points, while the EGX 100 climbed 3.8% or 37.3 points to 1,030 points. In addition, the EGX 50 went up 9.2% or 148.41 points to reach 1,761.9 points.
Market capitalisation rose by EGP 24.7 billion to reach EGP 544.1 billion this week, compared to EGP 519.4 billion last week.
Egyptian traders acquired 74.59% of the total trades, while foreign and Arab investors accounted for 13.92% and 11.5% respectively. Individuals made up 64.35% of the trades, while institutional investors acquired the remaining 35.6%.
The main index reached its highest level since May 2008, yet it grew at a slower pace compared to last week, according to Ehab El-Saeed, head of technical analysis at Osool Securities Brokerage Company.
Trading volume continued to rise throughout this week, exceeding EGP 2 billion in the average daily trading, the analyst noted.
The bourse was mainly backed by the news that Egypt won the International Monetary Fund’s (IMF) approval on Friday for a three-year, $12 billion bailout program, El-Saeed added.
