Egypt's stocks gain EGP 5.4 bln on Sunday trading

Ahram Online , Sunday 1 Apr 2018

File Photo: Traders work at Egypt's Stock Exchange in Cairo (Reuters)

The Egyptian Stock Exchange closed in the green, seeing collective gains on Sunday as market capital won around EGP 5.4 billion, recording EGP 979.6 billion total, supported by foreign institutions and investment fund purchases.

The main EGX30 securities index increased by 0.84 percent to close at 1759.88 points, while the small and medium enterprises EGX70 increased by 0.55 percent to 875.79 points.

All-embracing EGX100 increased by 0.84 percent, registering 2257 points.

Last Thursday, the Central Bank of Egypt (CBE) cut key interest rates by 100 basis points.

The overnight deposit rate was lowered to 16.75 percent from 17.75 percent, and the overnight lending rate was cut to 17.75 percent from 18.75 percent.

The rate of the central bank’s main operation and the discount rate were both cut by 100 basis points to 17.25 percent.


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