Egypt's stocks rebound Monday on foreign purchases

Ahram Online , Monday 16 May 2016

Egyptian stock exchange i
A trader watches his monitor at the Egyptian stock exchange in Cairo April 1, 2014 (Reuters)

Egypt’s stocks rebounded on Monday as non-Arab foreign investors continued to purchase.

The market's benchmark EGX30 went up 0.49 percent to register 7,409 points in a session that saw foreigners as net-buyers to the tune of EGP 77 million worth of shares.

The rebound came despite the decline of 70 shares during trading. Only 51 gained out of 166 stocks that were listed.

The daily turnover for the listed securities reached some EGP 444.45 million.

The heavyweight Commercial International Bank (CIB) that was most traded for the day surged 1.37 percent to close at EGP 43.80 per share.

Egypt’s leading investment bank EFG Hermes went up 1.73 percent to be traded at EGP 9.97 per share.

Orascom Telecom Media and Technology (OTMT) rose 1.43 percent, reaching EGP 0.71 per share.

On the other hand, the blue chip real estate developer Talaat Moustafa Group (TMG) was down 0.67 percent to register a price of EGP 5.94 per share.

Broader index EGX70 inched up 0.06 percent.

 

*The official exchange rate for $1 = EGP 8.78

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