Cairo bourse rebounds amid CIB-Sawiris deal

Egypt’s stock market edged higher on Monday with gains worth 1.8 billion Egyptian pounds (US$ 229 million) despite Local sell off.

The main index rebounded on Monday after the heavyweight Commercial International Bank (CIB) had accepted OTMT offer to buy 100 percent of the investment bank CI Capital.

The market capitalisation has recorded 386.518  billion pounds during the closing session of Monday.

Indices

Egypt’s benchmark index, EGX30 increased by 0.80 percent to 5800.05 points.

The  EGX50 EWI index went up by 1.46 percent to 1078.23 points.

EGX20 hiked by 1.15 percent to 5810.72 points.

In addition, the mid- and small-cap index EGX70 jumped by 0.95 percent to 353.2 points. The price index, EGX100 climbed by 0.76 percent 703.44 points.

Turnovers high

On  Monday, the bourse’s trading volume hit 144.192 million securities, with turnovers closed at  1.465 billion pounds , exchanged through 20,144 thousand transactions.

Also during the closing session, 166 listed securities have been traded in; 21 declined, 105advanced; while 35 kept their previous levels.

Investors’ Activities

Arab and foreign investors were net buyers on Monday  getting 1.04 percent  and 2.4  percent respectively of the total markets, with a net equity of EGP 3.305 million and EGP 3.014 million, respectively, excluding the deals.

On the contrary, the Local investors were net sellers seizing 96.56 percent of the total market, with a net equity of EGP 96.56 million, excluding the deals.