Egypt Independent

Stock exchange continues upward trend in the new year

Stock exchange indexes rose at the end of trading on Thursday, supported by strong purchases from foreign investors. Market capitalization gained about LE4.3 billion.

The EGX30 rose by 1.7 percent, gaining 100 points to settle at 5,745 points, with active transactions of 591.3 million.

Purchases dominated the net trading of non-Arab foreign investors, while the net trading of Egyptians and Arabs tended toward sales.

Market capitalization reached 388.7 billion, with total gains from the first two trading sessions of the New Year going up by 13 billion.

Mahmoud Abdoul-Rahman, investment director at Premiere Brokerage Company, predicted that the market would continue to go up as the government renews efforts to push the economy forward and establish political stability.

Edited Translation from Al-Masry Al-Youm