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Egyptian market up on Arab buying, real estate gains

Four biggest gainers on Tuesday were real estate developers Palm Hills for Development (PHD), Talaat Moustafa Group (TMG), Heliopolis Housing and Amer Group

Ahram Online , Tuesday 20 Jan 2015
Staff at the Egyptian stock exchange in Cairo (Photo: AP)
Views: 1039
Views: 1039

The real estate sector led the rise in Egypt's market on Tuesday, with Arabs being net buyers amid high turnover.

The benchmark EGX30 index climbed 2.14 percent to 9,804 points and daily stock turnover registered LE923.6 million.

Arab investors were net buyers to the tune of LE86 million, while Egyptian investors were net sellers to the tune of LE78 million.

The leading four gainers in the main index were real estate developers Palm Hills for Development (PHD), Talaat Moustafa Group (TMG), Heliopolis Housing and Amer Group.

PHD climbed 4.39 percent to LE4.47 per share, TMG rose 4.21 percent to LE11.43 per share, Heliopolis Housing was up 3.42 percent to LE67.01 per share, and Amer group inched up 3.2 percent to LE1.28 per share.

Egypt's leading investment bank, EFG-Hermes, increased 2.92 percent to LE17.83 per share.

Market bellwether, Commercial International Bank (CIB), was up 2.63 percent to LE53.99 per share.

Broader index, EGX70, increased 0.41 percent.

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