Traders work at the Egyptian stock exchange in Cairo (Photo: Reuters)
Egypt’s main index, the EGX30, registered a slight increase on Thursday despite clashes in an Egyptian city the previous night.
The EGX30 rose 0.57 percent to sit at 5726.22 points, with a modest turnover of LE363 million by the end of session.
"The rise in EGX30 indicates that healthy demand levels the shares, as the stock exchange has grown immune to political turbulence," Eissa Fathy, vice president of the securities division at Cairo's Chamber of Commerce, told Ahram Online.
Clashes erupted on Wednesday between marchers in support of ousted Islamist president Mohamed Morsi and their opponents in Suez.
Trading in the stock market was not as high as hoped, due to people cashing-in in preparation for the Hajj season and for the bourse's scheduled closure on Sunday for the 6 October national holiday, added Fathy.
The National Alliance to Support Legitimacy – a pro-Morsi coalition – has called for protests on both Friday and Sunday, heightening fears of a confrontation with rival pro-military demonstrations due to take place simultaneously.
Egyptians were net sellers at a value of LE12.5 million, while foreign investors were net buyers.
In the personal and household products sector, Arab Cotton Ginning shares were in the red, decreasing by 1.17 percent. Both Arab Polvara for Spinning and Weaving and Oriental Weavers' shares increased by 6.73 and 2.79 percent, respectively.
The most influential stocks on the main index were those of Commercial International Bank, which increased by 0.54 percent making a turnover of LE15.6 million.
In the real estate sector, TMG Holding gained 1.39 per cent and Palm Hills inched up 1.7 per cent, with turnovers as high as LE9.8 million and LE24 million, respectively.
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