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EGX closes 1.4% higher, snaps 4-day losing streak

EGX closes 1.4% higher, snaps 4-day losing streak
The Egyptian Exchange (Photo credit: Mubasher)

Cairo – Mubasher: The Egyptian Exchange (EGX) ended Thursday’s trading on a positive note, snapping a four-day losing streak.

The benchmark EGX 30 index leapt 1.4% or 116.8 points to the level of 8,277.2 points.

The EGX 70 index grew 0.57% to 335.4 points and the EGX 100 leapt 1.01% to 791.6 points.

The rise was due to the increase in some blue chips as CIP-Egypt grew by 0.39% to EGP 52, the stock made a turnover of EGP 72 million.

Turnover reached EGP 664.1 million as 184 million shares were exchanged.

The market capitalisation rose by EGP 4.56 billion to EGP 408.66 billion.

Purchases by Egyptian and Arab investors amounted to EGP 25.95 million and EGP 41.17 million respectively, while sales by foreign investors reached EGP 67.1 million.

The top gainers were Arab Ceramic, Sinai Cement, Abu Qir Fertilizers, Orascom Development Holding and Marsa Alam for Tourism Development.

Meanwhile, the top losers were El Obour Real Estate Investment, Alexandria Pharmaceuticals and Chemical Industries, Arab Drug and Orange Egypt.