Egyptian traders back stock market to continue midday rally



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Rana Mamdouh

Egyptian stock indexes continued their gains on Thursday mid-session, supported by the buying power of Egyptian investors.

The EGX30 benchmark gained 0.37%, to 13,442 points.

This came with the support of Commercial International Bank (CIB) with the largest relative weighting of the benchmark, up 0.15%, to 72.46 pounds.

The EGX70 and EGX70 indices increased by 0.15% and 0.4% for all EGX100 indices.
In the middle of the trading session, 121 companies went from 61 to 20, while the 40-share price has not changed.

The volume of transactions was 275.523 million pounds sterling out of 6,614 transactions.

Egyptian investors tend to buy net buyers with a net worth of 10.269 million Egyptian pounds, with net purchases of 96.243 million Egyptian pounds, compared to 85.973 million Egyptian pounds.

Foreign investors' sales dominated the transactions of foreign investors, posting a net profit of 7.6 million Egyptian pounds, of which 7.440 million Egyptian pounds for institutions and 159,312 thousand pounds sterling for individuals.

Arab investors were net sellers at EGP 2,669 billion of establishments at EGP 6,068 million, compared with EGP 3,399 million for net retail purchases.

The Suez Cbad Bank ranked first at 9.74%, followed by the Islamic Bank of Abu Dhabi – Egypt with 8.08%, followed by NUDAP (North-Upper Egypt) of 5.21%.

The Egyptian company for the development of the building industry was the main loser with 21.43%, followed by Al-Qalaa for Financial Consultancy with 8.64%, followed by Ismailia Development and Real Estate Development Company with 5 , 03%.

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