Cairo main index climbs 8% in week after c.bank move

Egypt’s stock market posted weekly gains worth 18.8 billion Egyptian pounds ($2.4 billion).

Main index, EGX30 has jumped 8 percent in a week, signalling investors’ relief following the central bank’s move to remove caps on foreign exchange deposits and withdrawals for companies importing essential goods, to boost liquidity in a dollar-starved economy.

Indices

EGX30 jumped 7.8 percent to close at 6563 points on Thursday, versus 6089 points at the end of a week earlier.

The main gauge index registered its highest point on Thursday closing at 6563 points, whereas its lowest point recorded on Sunday at 6214.94 points.

In addition, the mid- and small-cap index, the EGX70 also grew 0.6 percent in a week closing at 354 points during Thursday’s session, compared to 352 points at the end of a week earlier.
Price index, EGX100 also surged 1.5 percent finishing at 735 points during Thursday’s session, from 724 points at the end of a week earlier.

Market Cap
Market capitalisation ended at 411.561 billion pounds last Thursday, compared to 392.758 billion pounds at the end of a week earlier.

Turnovers
During the week, the trading volume hit around 1.3 billion securities, compared to 762.2 billion. For the traded value, it reached 3.7 billion pounds against 3.4 billion pounds a week earlier.