Arab, foreign buying boosts EGX early Thursday

Arab, foreign buying boosts EGX early Thursday
CIB’s stock gained 0.82%

Cairo – Mubasher: The Egyptian Exchange (EGX) traded in the green early Thursday, on the back of buying by Arab and foreign investors.

By 10:19 am Cairo time, the benchmark EGX30 index grew 0.78% or 111.14 points to 14,315.81 points, while turnover amounted to EGP 114.7 million after 49.4 million shares were exchanged through 3,060 transactions.

The EGX70 index added 0.43% to 780.49 points, while the EGX 100 and equal-weight EGX 50 increased 0.45% and 0.74% to 1,764.16 points and 2,518 points, respectively.

In the meantime, CIB’s stock gained 0.82% to EGP 77.02 on the back of positive results for the third quarter of 2017 and the first nine months of the year. Turnover on the stock amounted to EGP 1.6 million.

Egyptian investors were mostly sellers, netting EGP 325.7 million, whereas foreigners and Arabs were buyers, netting EGP 180.7 million and 144.98 million, respectively.

Citadel Holding’s led rising blue chips, adding 5.11%, followed by Ezz Steel and Telecom Egypt with 3.73% and 2.9%, respectively.

On the other hand, Porto Group was among the losers, falling 2.56%, while Global Telecom shed 0.93% after it posted a net profit decline in the third quarter of 2017.