Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

EGX Gains EGP 18.4 Bln, All Indexes Up


Sun 22 Mar 2020 | 02:11 PM
Taarek Refaat

All Egyptian Stock Exchange (EGX) indexes jumped in the first minutes of morning trading on Sunday, supported by the purchases of local institutions and investment funds.

The market capital of companies listed on the stock market gained about EGP 18.4 billion to reach the level of EGP 522.4 billion, compared to about EGP 504 billion last Thursday.

The increase is prompted by the stimulus procedures the government has adopted and to the initiative that the National Bank of Egypt (NBE) and Banque du Caire have launched to pump three billion pounds in the stock market.

The increase came as a result of the stimulus measures adopted by the government as well as the initiative launched by the National Bank of Egypt and Banque du Caire,  pumping EGP 3 billion into the stock market.

The markets main index "EGX 30"  jumped by 6.38%, recording 9,792.51 points.

The broader EGX 70 EWI index of the leading small and medium sized enterprises (SMEs) also increased by 2.05 %, registering 857,67 points.

The all-embracing EGX 100 index also went up 3.01 %, reaching 958,16 points.

By the end of trading, the Stock market gained EGP 19.6 billion, continuing  its strong recovery for the second consecutive session with the continued optimism in the market.

The market capital reached the level of EGP 524.3 billion with total transactions amounting to EGP 12.381 billion.