Recorded the highest level in 6 years
Egyptian stocks rise 1.3%, with the support of foreign purchases
Stock indexes ended trading yesterday, rising mass, driven by buying by foreign investors, while the Arab and Egyptian dealings tended towards the sale. And close on market capitalization of issuers at 502.4 billion pounds, up daily capacity of around 4 billion pounds, and the highest level since January, trades amounted to a hearing today about 728 million pounds. Index of the main stock exchange ' EG x 30 ' by 1.3 per cent, and ' EG x rose 20 ' 1.1 percent, the index of medium-sized and small enterprises ' EG x 70 ' by 0.57 percent, index ' EG x 100 ' broader 0.23 per cent. Wa'el Enaba said Al-awael Chairman portfolio management, the continued rise of the stock market during the week, supported by foreign buying, which helped overcome the cursor point 8800 point is highest number achieved six years ago after the global financial crisis.
He noted that during yesterday's meeting the purchase of foreigners amounted to 80 million pounds, reached during yesterday's meeting the first 100 pounds, and is the third stage of the ascent as we mentioned at the beginning of the year, started the first wave of the rise of the market with the purchase of the Egyptians, and the second wave was due to the purchase of the Arabs. The rise of the share of commercial International Bank, which is the highest rate in history (after adding distributions and stock dividends) but not the highest multiplier continues profitability at 11 once again contributed to the rise of the index, as well as the rise of EFG Hermes shares after transaction Treasury shares, an indication of the willingness of Hermes to implement the second part of the Treasury shares, given that the law does not allow for possession of more than 5 per cent.
Individuals Captured larger proportion of transactions by 71.82 percent and IFO all dealings to sell particular Egyptians were among the institutions acquired the remaining 28.17 percent foreign trading of them tended towards intensive versus local sales purchase and Arabic. And ascended the shares ' CBI '-the largest relative weight in the index-by 3.27 percent to 43.32 pounds, at the top of the most active stock in trading values exceed 77 million pound trades more than 1.78 million shares from 985 deal. In the forefront of activities where stock trading shares ' Orascom Telecom ' after surpassing 25 million shares worth 31.9 million exceeded the trades through a high deal 646 0.79 percent to 1.26 pounds.