Egypt's stocks rebound on Tuesday as foreigners resume purchase

Ahram Online , Tuesday 24 May 2016

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

Egypt’s stocks rebounded on Tuesday as foreign investors resumed purchasing.

The market’s benchmark EGX30 rose 1.08 percent to register 7,497 points, with all heavyweight shares going up.

Out of 167 listed stocks, 106 gained and 21 declined in a session that saw a daily turnover worth some EGP 526 million.

Foreign investors together with locals were net buyers to the tune of EGP 12.1 million and EGP 3.8 million respectively.

Commercial International Bank (CIB) edged up 0.52 percent to EGP 42.48 per share.

Real estate developer Talaat Moustafa Group (TMG) was up 1.01 percent to close at a price of EGP 6.01 per share.

Egypt’s leading investment bank EFG Hermes rose 1.59 percent to be traded at EGP 10.86 per share.

Orascom Telecom Media and Technology (OTMT) surged 1.37 percent to EGP 0.74 per share.

Broader index EGX70 inched up 0.92 percent.

The official exchange rate is EGP 8.78 to USD1.

Short link: