Cairo – Mubasher: The Egyptian Exchange (EGX) indices advanced collectively in Monday’s early trading amid buying spree lead by Arab investors.
The benchmark index EGX30 added 1.66%, moving above the level of 7,600 points to reach the level of 7,642 points.
The equal weighted index EGX50 gained 1.12% to the level of 1,361 points. Following suit the small and mid-caps index EGX70 inched up 0.34% to 362 points.
The broader index EGX100 , also added 0.45% to 773 points.
The market witnessed 50 million shares changed hands worth EGP 123 million, executed through 2,700 transactions.
Arab investors were buyers with EGP 3.5 million, while local and foreign investors were sellers with EGP 2.4 million and EGP 1.1 million respectively.
The stocks of Trans Ocean Co. topped the advanced stocks as they surged by 16.6%, followed by Alexandria National Company that went up by 9.9% and Beltone Holding that gained 9.9% as well.
Earlier, number of market experts, stated in exclusive statement to Mubasher, that the market is expected to continue the current upside trend, after the benchmark broke above the level of 7,535 points and amid the positive sentiment that stemmed from the statement made by the governor l of the Egyptian Central Bank in respect to the possibility of further devaluation of the Egyptian pound.
