Cairo – Mubasher: The Egyptian Exchange finished Monday’s trading session on a higher note, powered by the purchases of foreign and national institutions.  

The benchmark gradually climbed to end the session higher 0.74% to 7,577 points after adding 55.8 points.

The total market value gained EGP1.7 billion to settle at EGP407.5 billion against EGP405.9 billion on Sunday.

Foreign institutions were ranked as the strongest purchasing power on Monday with a net of EGP69 million, followed by Arab institutions with a net of EGP25 million.  

Meanwhile, Arab investors tended to sell their stocks by a net of EGP77 million.

Hanan Ramses, CEO of Cairo Securities, said the bourse saw today a calm session up till the mid-trading session, after which foreign institutions started investing in blue-chip stocks. She added that EGX is likely to keep the uptrend in Tuesday’s trading session, namely if foreign investors maintain the purchasing attitude.   

In addition, the analyst ascribed the selling attitude of Arab investors to the process of profit-taking.

CIB, the largest constituent on EGX, increased by 1.7% to EGP38.9 at close.

Trading value reached EGP887.6 million. In addition, the bourse saw 64 stocks move up, 72 move down, and 31 stay at their previous levels.

The top gainers were Samad Misr (+7.47%), Egyptian International Tourism Projects (+6.21%), Arab Valves Company (+6.12), National Cement (+4.33%), and El Arabia for Land Reclamation (+4.06%).

Meanwhile, the top losers were TransOceans Tours (-12.50%), Misr Oils & Soap (-8.74%), El Orouba Securities Brokerage (-6.98%), and Misr Beni Suef Cement (-4.54%).