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EGX gains EGP 2.4 bln powered by blue chips; benchmark crosses 8500

EGX gains EGP 2.4 bln powered by blue chips; benchmark crosses 8500
Indices of the Egyptian Exchange (EGX) rose on Tuesday, backed by the strong buying among Arab and foreign institutions as well as Arab retail traders.
The benchmark index EGX30 rose 1.08% or 91.91 points to close above the 8500 barrier at 8563.06 points.
The small and mid-cap index EGX70 also advanced 0.54% or 3.3 points to 616.24 points. The broader index EGX100 ended 0.61% or 6.59 points higher at 1088.75 points.
Market capitalization gained nearly EGP 2.43 billion to reach EGP 491.289 billion, compared with EGP 488.859 billion on Monday.
Tuesday’s turnover amounted to more than EGP 425 million, generated from trading 109 million shares in 15.9 thousand transactions.
Retail traders accounted for 71.73% of total trading, while institutions made up the remaining 28.26%.
Tracking stock performance, heaviest weight CIB rose 3.42% to EGP 39.10, EFG-Hermes added 0.66% to EGP 15.32 and Amer Group advanced 1.48% to EGP 1.37.