EGX Records Collective Gains amid Arab Purchases, Decline in T-bills

Egyptian stock market (EGX) indices rose collectively on Wednesday, supported by purchases by Arab individuals and institutional investors after a decline in treasury bill yields.

The main index (EGX 30) closed up 0.91% to 29,667 points, and the index (EGX 70) of small and medium-sized companies rose 1.18% to 6,833.69 points, while the broader (EGX 100) rose 1.17% to 9745.75 points.

Arab and Egyptian investors tended to buy with a net amount of 47.1 million and 21.9 million pounds, respectively, while foreigners tended to sell with a net amount of 69 million pounds.

Shares of Talaat Moustafa Holding Group rose 2.54% to 68.57 pounds, Elsewedy Electric rose 3.63% to 37.51 pounds, Commercial International Bank rose 0.12% to 82.1 pounds, and e-Finance for financial and digital investments rose 1.30% to 25.02 pounds.

Shares of Ezz Steel also rose 1.4% to 65.96 pounds, Orascom Development Egypt rose 5.71% to 12.4 pounds, Heliopolis Housing and Development rose 2.10% to 11.19 pounds, Palm Hills rose 5.17% to 4.07 pounds, and Madinet Masr for Housing and Development rose 3.02% to 4.1 pounds.

Moreover, Beltone Financial Holding shares fell 0.57% to 3.51 pounds, and EFG Holding Group shares fell 0.84% to 17.61 pounds.