Cairo – Egypt: The Egyptian Exchange (EGX) opened Wednesday’s trading session with a marginal rise, backed by foreign and Arab buying.
By 10:28 am Cairo time, the benchmark EGX30 index inched up 0.01% or 0.66 points to the level of 13,115.53 points.
The EGX70 index ascended 0.58% to 687.71 points, while the EGX100 index added 0.43% to 1,557.36 points.
The equally-weighted EGX50 index edged up 0.05% to 2,029 points.
Trading volume reached 4.5 million shares exchanged at EGP 18.9 million through 1,140 transactions.
Foreign and Arab investors were net buyers by EGP 395,500 and EGP 248,800, respectively, while Egyptian investors were net sellers by EGP 644,400.
Earlier in the session, the EGX decided to suspend trading on six stocks as they exceeded a fluctuation rate of 5%, including National Cement, Reacap, Alexandria Flour Mills, National Bank of Kuwait - Egypt (NBK), El Arabia for Land Reclamation, and Cairo Educational Services.
Arabian Food Industries Co (Domty), Pioneers Holding, and Elsewedy Electric Co levelled up 3.48%, 1.05%, and 0.91%, respectively.
On the other hand, Porto Group Holding, Egyptian Resorts Co, and Egyptian Financial and Industrial (EFIC) declined 2.5%, 0.98%, and 0.94%, respectively.
Commercial International Bank – Egypt (CIB) shed 0.22% to EGP 81.53.
Analysts told Mubasher that the EGX’s sideways-to-bearish performance is expected to continue during Wednesday’s session, pointing out that the EGX30 index may test the level of 13,000 points.
