Cairo – Mubasher: The Egyptian Exchange (EGX) opened Wednesday in the green, with a collective rise of its sectors, backed by Egyptian investors’ purchases.
The benchmark EGX30 index grew 0.78% or 97.78 points to 12,771.27 points by 10:40am Cairo time.
The EGX70 index gained 0.75% to 472.4 points, while the EGX100 increased 0.55% to 1,164.28 points. Similarly, the equal weight EGX50 index levelled up 0.71% to 1,918.50 points.
In the meantime, turnover reached EGP 127.3 million after 40.4 million shares changed hands through 3,700 transactions. Moreover, a total of 59 stocks were in the green, 10 were in the red and 30 remained unchanged.
Egyptian investors’ buying netted EGP 11.10 million, while Arab and foreign investors were net sellers with EGP 982,000 and EGP 10.12 million, respectively.
A total of 18 leading stocks advanced, led by GMC, Universal and Egyptian Resorts, which were up 3.70%, 2.35% and 1.83%, respectively.
On the other hand, six blue chip stocks were in the red, led by Cairo Oils and Palms Hills, which were down 4.34% and 0.35%, respectively.
Analysts told Mubasher earlier today that the EGX30 index needed to close above 12,575 points to confirm a rising trend.
The EGX30 sharply dropped on Tuesday, falling 1.96% or 253.58 points and closing at 12,672.49 points, following a collective decline of its sectors amid strong pressure from foreign investors. Market capitalisation was down EGP 7.88 billion.
