Egypt’s stocks close higher on Tuesday, benchmark EGX 30 adds 1.32%

Egypt’s stock exchange (EGX) ended higher on Tuesday, with the benchmark EGX 30 index surging by 1.32 percent to 11,663 points.

EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) edged up by 0.63 percent to 1,991 points. The all-embracing index, EGX 100 added 0.42 percent to 3,009 points.

Since Monday, the Egyptian stock market rose significantly after the central bank raised interest rates in a bid to fight inflation as the war in Ukraine pushes commodity prices higher.

Market Cap   

The country’s market capitalisation has gained 7.3 billion Egyptian pounds ($399.2 million), ending the trading at 747.103 billion pounds buoyed by local investors’ buying appetite.

Trading Aggregates            

Trading value has approximately reached around 1.98 billion pounds, while the trading volume has almost recorded around 549.9 million securities executed around 61 thousand transactions.