Cairo – Mubasher: The Egyptian Exchange (EGX) started Wednesday on a higher note backed by a bunch of decisions taken by Supreme Investment Council to boost investment climate in Egypt, most importantly included another three-year suspension of capital gains tax on shares and tax exemptions.
The benchmark index EGX30 added 127.49 points, or 1.51%, to jump to the mark of 8,575.25 by 10:46am Cairo time.
The small and mid-cap index EGX70 rose 0.6% to 384.97 points.
The broader index EGX100 inched up 0.01% to 816.36 points and the equal-weighted index EGX50 was higher 1.90% to 1,358.32 points.
Trading volume reached 147.4 million shares at EGP 253.5 million.
Out of 122 traded stocks, 69 shares moved up, 22 went down, and 31 stayed at their previous levels.
National and Arab investors were net buyers by EGP 5.99 million and EGP 4.02 million, while foreigners were net sellers by EGP 10 million.
MubasherTrade Research earlier expected the benchmark index "to continue rising towards 8.475".
