Foreign buying boosts Egypt’s stock early Thursday

The indices of the Egyptian Exchange (EGX) rose early Thursday on the back of foreign buying.

By 10:23 am Cairo time, the benchmark EGX30 index the benchmark EGX30 index gained 111.60 points, or 0.7 percent, to 15,947.33 points.

The small- and mid-cap EGX70 index edged up 0.12 to 746.23 points, while the broader EGX100 index levelled up 0.31 percent to 1,932.92 points.

The equal-weighted EGX50 index went up 0.41 percent to 2,600 points.

Trading volume amounted to nearly 12.08 million shares exchanged through 1,600 transactions at a turnover of 53.4 million pounds.

Foreign investors were mostly buyers, netting 702,900 pounds, while Egyptian and Arab investors were net buyers with 246,600 pounds and 456,200 pounds, respectively.

The heavyweight Commercial International Bank (CIB) added 0.14 percent to 86.2 pounds, with a turnover of 749,050 pounds.