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Egypt's bourse gains EGP 9.5 bn after nearly two week of losses

The gain comes after nearly two weeks of losses due to lack of liquidity, a shortfall of investors appeal, and the absence of anticipated governmental initial public offerings.

Ahram Online , Tuesday 17 Dec 2019
Stock Exchange
File Photo: Traders work at Egypt's Stock Exchange in Cairo (Reuters)
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The Egyptian Exchange (EGX) indexes posted collective gains during Tuesday's trading led by the industrial sector shares and backed by purchases of investors after a near two week of losses.

The market capital gained EGP 9.5 billion to reach EGP 696.1 billion, after transactions totaled about EGP 1.4 billion.

The EGX 30 benchmark index increased by 1.66 percent, hitting 13,627.19 points.

The broader EGX 70 index of the leading small and mid-cap enterprises (SMEs) rose 1.1 percent, standing at 527.08 points.

The all-embracing EGX 100 index went up 1.25 percent, recording 1,381.81 points.

The gain comes after nearly two weeks of losses due to lack of liquidity, a shortfall of investors appeal, and the absence of anticipated governmental initial public offerings.

Trading volumed dropped to report EGP 46.254 bullion in securities during January-November, down from EGP 60.771 billion in 2018 and 77.964 billion in securities.

Market capitalization reported EGP 705.1 billion since the beginning of the year, plunging from EGP 749.7 billion in 2018 and EGP 824.9 billion in 2017.  

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