Indexes of the Egyptian Exchange (EGX) ended Tuesday’s session collectively higher as market capitalization gained EGP 6.9 billion, supported by the surge of Global Telecom’s stock.
Benchmark index EGX30 rose by 2.04%, surpassing the 8250 point mark to close at 8269.02 points.
Small and mid-cap index EGX70 also increased by 1.37% to 614.73 points.
The broader index EGX100 also moved up 1.15 % to 1074.35 points.
Market capitalization gained around EGP 6.9 billion to reach EGP 484.5 billion, compared with EGP 477.6 billion recorded on Thursday’s session.
Turnover hit about EGP 878.2 million upon exchanging 301 million shares in 34.6 thousand transactions. The market’s overall value recorded EGP 1.77 billion upon exchanging 302.75 million shares.
Ibrahim El-Nemr, head of technical analysis at Naeem Brokerage, said that EGX saw a vigorous session that it was able to move up by more than 2% and surpassing the 8200 point mark.
El-Nemr expects benchmark to target 8300-8350 points, and to move forward to reach 8600 points. He also pointed out that turnover is expected to exceed EGP 1 billion.
Egyptian traders were net buyers accounting for EGP 33 million; whereas foreign and Arab investors carried out selling activities amounted to more than EGP 8.8 million and EGP 24.28 million respectively.
Tracking stock performance, Global Telecom Holding was the top gainer, soaring by 9.23% to EGP 4.9, as VimpelCom Ltd. agreed to sell a majority stake in its Algerian unit Djezzy to the Algerian government, providing it with $2.643 billion to settle dispute over debts.
Pyramisa Hotels was top loser, plunging 10.39% to EGP 16.38.
On Thursday, EGX ending collectively higher as market capitalization gained EGP 1.7 billion with an increased turnover.
Benchmark index EGX30 rose by 0.29%, gaining almost 23.19 points, surpassing the 8100 point mark to 8103.67 points.
Small and mid-cap index EGX70 also increased by 0.92% or 5.52 points closing at 606.45 points.
The broader index EGX100 also moved up 0.74 % or 7.82 points to 1062.11 points. Market capitalization gained around EGP 1.7 billion to reach EGP 477.6 billion, compared with EGP 475.9 billion recorded on Wednesday’s session.
Turnover hit about EGP 817.8 million upon exchanging 252.7 million shares in 33.3 thousand transactions. The market’s overall value recorded EGP 1.06 billion upon exchanging 253.6 million shares.
Benchmark index EGX30 rose by 2.04%, surpassing the 8250 point mark to close at 8269.02 points.
Small and mid-cap index EGX70 also increased by 1.37% to 614.73 points.
The broader index EGX100 also moved up 1.15 % to 1074.35 points.
Market capitalization gained around EGP 6.9 billion to reach EGP 484.5 billion, compared with EGP 477.6 billion recorded on Thursday’s session.
Turnover hit about EGP 878.2 million upon exchanging 301 million shares in 34.6 thousand transactions. The market’s overall value recorded EGP 1.77 billion upon exchanging 302.75 million shares.
Ibrahim El-Nemr, head of technical analysis at Naeem Brokerage, said that EGX saw a vigorous session that it was able to move up by more than 2% and surpassing the 8200 point mark.
El-Nemr expects benchmark to target 8300-8350 points, and to move forward to reach 8600 points. He also pointed out that turnover is expected to exceed EGP 1 billion.
Egyptian traders were net buyers accounting for EGP 33 million; whereas foreign and Arab investors carried out selling activities amounted to more than EGP 8.8 million and EGP 24.28 million respectively.
Tracking stock performance, Global Telecom Holding was the top gainer, soaring by 9.23% to EGP 4.9, as VimpelCom Ltd. agreed to sell a majority stake in its Algerian unit Djezzy to the Algerian government, providing it with $2.643 billion to settle dispute over debts.
Pyramisa Hotels was top loser, plunging 10.39% to EGP 16.38.
On Thursday, EGX ending collectively higher as market capitalization gained EGP 1.7 billion with an increased turnover.
Benchmark index EGX30 rose by 0.29%, gaining almost 23.19 points, surpassing the 8100 point mark to 8103.67 points.
Small and mid-cap index EGX70 also increased by 0.92% or 5.52 points closing at 606.45 points.
The broader index EGX100 also moved up 0.74 % or 7.82 points to 1062.11 points. Market capitalization gained around EGP 1.7 billion to reach EGP 477.6 billion, compared with EGP 475.9 billion recorded on Wednesday’s session.
Turnover hit about EGP 817.8 million upon exchanging 252.7 million shares in 33.3 thousand transactions. The market’s overall value recorded EGP 1.06 billion upon exchanging 253.6 million shares.
Source:
Mubasher Exclusive
