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