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Sunday, 26 May 2019

Egypt's index rebounds amid modest turnover

Ahram Online , Monday 14 Dec 2015
Traders work at Egypt's Stock Exchange in Cairo July 3, 2013. Cairo (Reuters)
Views: 823
Views: 823

Egypt's main index rebounded on Monday after falling sharply the previous session on the back of a regional drop after oil prices tumbled.

Benchmark index EGX30 inched up 0.2 percent to 6,408 points and daily stock turnover recorded LE264.6 million.

On Sunday night, the Central Bank of Egypt injected foreign currency liquidity into the banking system, as the country struggles with a foreign currency shortage that took its toll on imports and industry.

Non-Arab foreigners were net buyers to the tune of LE26 million, while Egyptians were net sellers to the tune of LE18.5 million.

Market bellwether Commercial International Bank (CIB) gained 0.32 percent to LE34.03 per share.

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