Cairo – Mubasher: The Egyptian Exchange (EGX) closed on positive note on Tuesday, as the benchmark index EGX30 added 1.09% or 134.056 points to end at 12,425.17 points.
“The benchmark targets the level of 14,000 and which is expected to reach by the end of the first quarter of 2017 amid strong daily turnovers that may exceed EGP 3,” said Saeid EL Fiky, executive director at Osool brokerage.
The broader index EGX100 added 0.56% to close at 1,105.56 points, while the equal weighted index EGX50 went up 0.82% to close at 1,950.99 points.
The small and medium caps index EGX70 edged down 0.02% to close at 464.74 points.
The market capitalization gained EGP 4.5 billion reaching EGP 602.85 billion amid strong buying activity by foreign investors.
The market witnessed 350.8 million shares changed hands worth EGP 1.16 billion, carried out through 29,300 transactions.
Out of 171 stock traded today gainers outnumbered decliners by 76 to 61, while 34 stocks remained unchanged.
Local and Arab inventors were net sellers with EGP 152.06 million and EGP 4.86 million respectively, while foreign investors were buyers with EGP 156.9 million.
CIB, the heaviest stock of the EGX30 closed 1.2% up. Today’s top performing stocks were: ACC, up 5.9%, Global Telecom, up 5.8%, and Egyptian Iron and Steel, up 4.0%. Today’s worst performing stocks included Edita, down 1.1%, GB Auto, and EFG Hermes, down 0.6%.
