Egypt's main index continues rise, turnover exceeds LE1 billion

Ahram Online, Tuesday 4 Nov 2014

Blue chip gainers, foreign investment and high turnover lifts EGX30 by nearly 1 percent

Egypt's market continued its rise on Tuesday thanks to gains from blue chips, buying from foreign investors and a higher turnover.

The benchmark index EGX30 climbed 0.99 percent to 9,530 points and daily stock turnover reached LE1.1 billion for the second consecutive session.

Net investments for non-Arab foreigners reached LE114.6 million, while Egyptians and Arabs were net sellers to the tune of LE80 million and LE35 million, respectively.

Market bellwether Commercial International Bank (CIB) gained 1.23 percent to register LE50.9 per share and Telecom Egypt increased 2.95 to LE14.33 per share.

Orascom Telecom Media and Technology Company (OTMT) and Palm Hills Development (PHD) Company achieved the highest turnover in the session at LE172.5 million and LE86 million respectively.

OTMT gained 4.88 percent to LE1.26 per share and PHD inched up 0.46 percent to 4.23 per share.

The real estate sector saw Six of October for Development and Investment Company (SODIC) fall 0.89 percent to LE16.3 per share.

Egypt's leading investment bank, EFG-Hermes, also dropped despite the index's gains, declining 0.28 percent to LE17.2 per share.

Short link: