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Egypt bourse continues bull run; adds $416m

Egypt bourse continues bull run; adds $416m
Photo Credit: Arabianeye - Reuters

Cairo – Mubasher: The Egyptian Exchange indices were in green on Thursday, while market capitalisation added around EGP 3.3 billion ($416 million), amid strong buying appetite among foreigner and nationals traders.

The benchmark index EGX30 extended a winning run to the third successive day. It rose 1.06% or 85.84 points to close above the 8140 barrier at 8191.53 points.

EGX70, which measures small and mid-cap stocks, also rose 1.07% to 459.12 points and the broader index EGX100 ended 1.64% higher at 944.14 points.

Thursday’s turnover amounted to EGP 573.6 million, while traded volume reached 253.3 million shares.

Foreign traders were net buyers by EGP 25.4 million, while national and Arab traders were net sellers by EGP 8 million and EGP 17.4 million respectively.

Out of the 166 companies traded today, advancers outnumbered decliners by 95 to 47, while 24 others remained unchanged.