Egyptian Exchange opens Wednesday in green

The Egyptian Exchange (EGX) opened Wednesday’s trading session with a massive increase, encouraged by local buying.

By 10:23 am Cairo time, the benchmark EGX30 index inched up 21.74 points, or 0.13 percent, to 16,443 points.

The small- and mid-cap EGX70 index rose 0.32 percent to 810 points, while the broader EGX100 index grew 0.2 percent to 2,068 points.

The equal-weighted EGX50 index added 0.49 percent to 2,775 points.

The EGX’s trading volume hit 41.08 million shares exchanged at a turnover of 73.5 million pounds through 2,260 transactions.

Egyptian traders were net buyers with 960,140 pounds, while foreign and Arab investors were net sellers with 466,900 pounds and 493,200 pounds, respectively.

It has not been traded on the heavyweight Commercial International Bank (CIB) yet.

EFG Hermes, Talaat Moustafa Group Holding (TMG Holding), and Egypt Aluminum stocks increased 0.23 percent, 0.2 percent, and 0.17 percent, respectively.

On the other hand, Emaar Misr’s stock inched down 0.03 percent, followed by Heliopolis Company for Housing and Development’s stock with 0.02 percent, and Telecom Egypt’s stock (TE) with 0.01 percent.