Egypt’s stocks edged up Wednesday as the main EGX30 index rose 0.97 percent to register 6,062 points led by banking and telecom shares amid purchases by foreign investors.

Foreigners, mainly institutions, were net-buyers to the tune of LE19.8 million in a session that witnessed mild daily turnover of LE262.2 million.

Out of 157 securities listed for the day, 89 were up and 25 declined.

Heavyweight share Commercial international Bank (CIB) gained 1.94 percent to trade at LE33.63 per share. Credit Agricole Egypt (CAE) was up one percent to close at LE20.18 per share.

Telecommunication bluechips Telecom Egypt and Global Telecom rose 3.51 percent and 0.54 percent to register LE6.48 per share and LE1.85 per share respectively.

Real estate developer Talaat Moustafa Group (TMG) dropped 1.63 percent to LE4.82 per share.

The broader EGX70 index inched up 0.58 percent.