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Egypt's stocks gain EGP 3 bln in Monday-morning trading

Ahram Online , Monday 2 Apr 2018
Stock Market
File photo: Workers at Egypt's stock exchange market are seen in the trading hall in Cairo (Photo: AP)
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The Egyptian Stock Exchange opened in the green in Monday-morning trading, with market capital gaining around EGP 3 billion, recording EGP 981.6 billion in total, supported by foreign institutions and investment-fund purchases.

The main EGX30 securities index increased by 0.15 percent, registering 17,623.08 points, while the small and medium enterprises EGX70 index rose by 0.26 percent to 878.04 points.

The all-embracing EGX100 increased by 0.14 percent, registering 2,260.27 points.

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

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

Egypt’s foreign reserves rose by nearly $87 million to reach $42.611 billion at the end of March, up from $42.524 billion at the end of February, the central bank said on Monday.

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