Egypt Independent

Stock market rises on foreign investments

The Egyptian Stock Exchange rose in early trading on Wednesday, driven by purchases of Arab and foreign investors and amid optimism as the conclusion of the referendum on the draft constitution nears.

The main index EGX30 went up by 1.8 percent, gaining 99 points to settle at 5,419 points with transactions valued at LE565.6 million, or US$91.9 million.

Arab and foreign investors made net purchases worth LE30.8 million and LE7.5 million respectively, while local transactions were primarily sales, worth LE38.4 million.

The market’s capitalization gain was about LE4.7 billion (US$764.2 million) after it reached LE371.9 billion (US$60.4 billion). The closing prices of 127 securities went up, while 15 declined.

Edited translation from MENA