Indices of the Egyptian Exchange (EGX) rose on Wednesday, while market capitalization added around EGP 6 billion, backed by strong buying among foreign and Arab institutions and foreign retail traders.
The benchmark index jumped 2.07% or 178.73 points to close above the 8800 barrier at 8811.88 points.
The small and mid-cap index EGX70 also rose 1.63% or 9.53 points to 595.31 points and the broader index EGX100 added 1.14% or 12.11 points to 1077.88 points.
Wednesday’s turnover amounted to nearly EGP 579 million, while traded volume reached 157.8 million shares and number of transactions reached 26 thousand.
Foreign and Arab traders were net buyers by EGP 45.8 million and EGP 13.99 million respectively, while nationals ended as net sellers by EGP 59.8 million.
Retail traders accounted for 56.8% of total trading, with nationals and Arabs heading for selling. Meanwhile, institutions made up the remaining 43.2%, with foreign and Arabs ending as net buyers.
The market’s heaviest weight CIB was the most active with turnover reaching more than EGP 49.5 million, after 1.05 million shares changed hands in 959 trades. The stock rose 4.48% to EGP 46.98.
OTMT was the most active with a traded volume exceeding 46.3 million shares exchanged in 981 trades at more than EGP 47.9 million. The stock rose 2.94% to EGP 1.03.