Cairo – Mubasher: EGX indices initiated Monday’s session on a stronger note on Arab and foreign investors’ purchases, while experts at EGX trading activity saw the bourse to move sideways amid relatively higher market liquidity ratios.
By 10:30am Cairo time, the benchmark was 1.28% higher to 7,668.41 points.
With 32.1 million shares changing hands in 3,508 transactions, trading value reached EGP88.93 million.
Arab and Foreign investors were net buyers by EGP6.18 million and EGP2.28 million respectively, while nationals were net sellers by EGP8.47 million.
The small and mid-cap EGX70 rose by 0.4% to 371.38 points.
The broader index EGX70 went up by 0.4% to 371.38 points.
The equal-weighted index was 1.09% up to 1,427.73 points.
By 11:12am Cairo time, the top gainers were Belton Financial Holding (+9.78%), Al Arafa for Investment (+7.69%), and Remco for Touristic Villages Construction (+7.50%).
On the flip side, the top losers were Ismailia National Food Industries, El Ezz Porcelain (Gemma), Egyptian Arabian Securities Brokerage EAC with a slide of 4.95%, 3.34%, and 2.11% respectively.
Ahmed Thabet, head of technical analysis at Tycoon Brokerage, earlier said the main index is likely to make flat movements at the 7,350 - 7,600 area. In addition, the financial and real estate sectors, led by EFG-Hermes and Talaat Moustafa, may give a positive performance and see higher liquidity ratios.
Translated by Ahmed El-Sayed Ali
