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Egypt's stocks open in green, gain EGP 13 bln in Wednesday morning tradings

Ahram Online , Wednesday 7 Feb 2018
Egypt's stocks (Reuters)

The Egyptian Stock Exchange opened in green, seeing collective gains in Wednesday morning tradings, as market capital won around EGP 13 billion, recording EGP 853.9 billion, supported by foreign institutions and investment fund purchases.

The main EGX30 securities index increased by 2.20 percent to 15042.22.98 points, while the equally weighted EGX50 increased by 2.41 percent, reaching 2659.91 points.

The EGX20 capped index saw an increase of 2.68 percent to 14803.18 points.

The small and medium enterprises EGX70 increased by 2.22 percent to 857.26.

All-embracing EGX100 increased by 1.78 percent, registering 2045.97 points.

On Tuesday, Egypt's stocks closed in red following a sharp fall in the Dow Jones and the European stock market, with the market capital losing EGP 15 billion, the worst since the start of this year.

The Dow's plunge on Monday set off global shock waves. Japan's Nikkei 225 fell 4.73 percent on Tuesday and China's Shanghai SE Composite Index was down 3.35 percent.

In the biggest global sell-off since 2016, financial markets from Asia and Europe to the United States were rocked, primarily by concerns about inflation. 

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