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EGX ends Tuesday up; market cap drops EGP 23bn

EGX ends Tuesday up; market cap drops EGP 23bn
Trading volume reached EGP 134.4 million shares

By: Heba El-Kordy

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in green as the country’s inflation rate dropped to its lowest level since March 2013.

The benchmark EGX30 index increased by 0.46%, ending the mid-week session at 14,956 points.

Meanwhile, the heavyweight Commercial International Bank (CIB) retreated 0.69% to EGP 80.8.

The small- and mid-cap EGX70 index inched up 0.03% to 556 points, while the broader EGX100 index rose by 0.57% to 1,481 points.

After the final delisting of Global Telecom Holding’s (GTH) shares, the Egyptian bourse's market capitalisation fell about EGP 22.9 billion to EGP 751.5 billion on Tuesday from EGP 774.4 billion on Monday.

GTH’s capital reaches EGP 2.7 billion, distributed over 4.7 billion shares at a nominal value of EGP 0.58 apiece.

Egyptian investors were net sellers with EGP 62.7 million, while foreign and Arab investors were net buyers with EGP 29 million and EGP 33.6 million, respectively.

Trading volume reached EGP 134.4 million shares exchanged at a turnover of EGP 719.12 million through nearly 21,120 transactions.