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Egypt bourse strengthens amid Arab buying

Egypt bourse strengthens amid Arab buying
Photo Credit: Arabianeye - Reuters

Cairo – Mubasher: The Egyptian Exchange closed in the green zone on Monday, as the benchmark index, or EGX30, inched up 0.79% or 48 points to 6,174.7 points, following strong buying activity by Arab investors.

The small and mid-cap index EGX70 inched up 0.08% to 352.5 points, while the broader index EGX100 rose 0.10% to 710 points.

Meanwhile, the equal weighted index EGX50 slipped 0.21% to 1,098 points.

The heavy weight Commercial International Bank went up 0.4% to EGP 34.5 , with trading value of EGP 42.8 million.

Tracking stocks performance, Talaat Moustafa and Palm Hills increased 1% and 2.2% to EGP 5 and EGP 2.34 respectively.

Out of 164 stocks traded today, decliners outnumbered advancers by 82 to 46, while 36 others remained unchanged.

Arab investors came as net buyers with EGP 14.4 million, while local and foreign investors ended as net sellers with EGP 890,700 and EGP 13.5 million respectively.

The market capitalisation gained EGP 226 million, reaching the level of EGP 398.6 billion.