Cairo – Mubasher: The Egyptian Exchange indices’ performance was mixed on Thursday, as the main index, or EGX30 snapped its early losses to shut 0.25% or 18.9 points higher at 7,478.7 points backed by institutional buying.
The market is currently seeing ‘normal’ correction, amid strong performance especially amid strong buying among Arab and foreign traders, said Ziad Sheta, head of client accounts at Grand Capital.
EGX70, which measures small and mid-cap stocks, slipped by 0.14% to 360.6 points, while the broader index EGX100 rose by 0.43% to 776.9 points and EGX50 gained 0.19% to 1,403.5 points.
According to the analyst, equities are likely to be positively impacted by Saudi King Salman’s visit to Cairo that began today, amid plans for more Saudi investments in Egypt.
Market capitalisation rose by EGP 1.65 billion to EGP 403.3 billion, from EGP 401.7 billion on Wednesday.
Today’s traded value amounted to EGP 526.8 million.
Arab and foreign traders were net buyers by EGP 8.3 million and EGP 2.8 million respectively, while nationals were net sellers by EGP 11.1 million.
