Egypt’s bourse opens Thursday in green

The Egyptian Exchange (EGX) started Thursday’s trading session in green territory amid the anticipation of the Central Bank of Egypt’s (CBE) Monetary Policy Committee (MPC) interest rate decision.

The MPC is expected to keep interest rates unchanged during their meeting today amid weak hike expectations, according to a poll done by Mubasher.

By 10:19 am Cairo time, the benchmark EGX 30 index edged up 45.19 points, or 0.34 percent, to 13,532.39 points.

The small- and mid-cap EGX 70 index inched up 0.02 percent to 695.67 points, whereas the broader EGX100 index added 0.05 percent to 1,736.8 points.

Likewise, the equal-weighted EGX50 index levelled up 0.26 percent to 2,175 points.

Trading volume amounted to nearly 27.3 million shares exchanged through 1,400 transactions at a turnover of 91.16 million pounds.

Egyptian investors were net buyers with 1.4 million pounds, while foreign and Arab investors were net sellers with 1.2 million pounds and 208,200 pounds, respectively.

The heavyweight Commercial International Bank (CIB) inched up 0.01 percent to 80.52 pounds.