Egypt’s stocks close higher on Wednesday, benchmark EGX 30 grows 0.69%

Egypt’s stock exchange (EGX) ended higher on Wednesday, with the benchmark EGX 30 index going up by 0.69 percent to 11,744 points.

EGX 70 EWI index of the leading smaller and mid cap enterprises (SME) rose 0.56 percent to 2,003 points, while the fixed-weighted index, EGX 30 Capped hiked by 0.91 percent to 14,214 points. In addition, the equal weights index, EGX 50 advanced 0.82 percent to 2,019 points.

The all-embracing index, EGX 100 edged 0.76 percent higher to 3,032 points.

Since Monday, the Egyptian stock market surged 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 posted gains worth 3.69 billion Egyptian pounds ($200.9 million), ending the trading at 750.793 billion pounds due to local and Arab investors’ buying appetite.

Trading Aggregates            

Trading value has approximately reached around 2.515 billion pounds, while the trading volume has almost recorded around 440.887 million securities executed 38,305 transactions.