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EGX jumps 1.85% on CIB gains

EGX jumps 1.85% on CIB gains
CIB-Egypt was the most active in terms of turnover (Photo Credit: Arabianeye-Reuters)

 

Cairo – Mubasher: The Egyptian Stock Exchange’s (EGX) EGX30 index on Tuesday surged 1.85% or 143.41 points to 7,886.82 points, backed by strong gains on the Commercial International Bank (CIB).

EGS Brokers deputy general manager Walid Helal confirmed the reason for these gains and noted that the varying performance seen in other sectors indicates that the rise was a ‘selective’ one.

CIB-Egypt, the heaviest stock in the EGX30 index, was the most active in terms of turnover which reached EGP 225.12 million. The stock grew 5.03% to EGP 45.10 after 4.992 million shares were exchanged through 2,197 transactions.

Market capital gained EGP 1.8 billion to reach EGP 416.2 billion, up 0.45% from EGP 414.3 billion on Sunday, as Monday was an official holiday for Sinai Liberation Day.

Egyptian investors were focused on selling, with net selling of EGP 129.35 million, whereas foreigners and Arabs focused on buying, netting EGP 116.89 million and 12.45 million.

The EGX’s turnover reached EGP 796.110 million after 200.443 million shares were traded.

The EGX70 index retreated 0.29% to 377.55 points, while the EGX100 shed 0.42% to 804.76 points.