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Egypt's index up 1 pct, buoyed by blue chips

CIB, Global Telecom, and other heavyweights pull market upwards as foreign investors buy

Ahram Online , Sunday 21 Feb 2016
Egyptian stock exchange
Traders work at the Egyptian stock exchange in Cairo, Egypt (Reuters)
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Egypt’s main index rose on Sunday, buoyed by blue chip gains.

The benchmark EGX30 gained 1.07 percent in Sunday trading to close at 6,008 points.

Largest listed stock Commercial International Bank (CIB) saw its share price rise 1.79 percent to trade at EGP33.07, while third largest Global Telecom Holding was up 2.54 percent to EGP 2.02.

Heavyweight property developer TMG Holding inched up 0.22 percent to EGP 4.63, while Palm Hills Development Company was up 1.75 percent to close at EGP 2.33. Six of October Development and Investment (SODIC) edged up 0.58 percent to EGP 6.90.

Leading investment bank EFG Hermes saw its share price climb 1.47 percent to EGP 6.88.

Non-Arab foreign investors were the net-buyers according to bourse data, to the tune of EGP 7.7 million, while local investors were net-sellers for EGP 5.3 million. 

*EGP 1 is equal to USD .13

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