CAIRO: The Egyptian Exchange (EGX) rallied Tuesday boosted by an investor upbeat sentiment, namely among Arab and foreign traders.
The benchmark jumped 2.14 percent, recording 9,804 points, higher than Monday’s 9,599 points. The small and mid-cap EGX70 rose by 0.41 percent, registering 570.5 points, compared to 568 yesterday. Also, the broader EGX100 index added 0.71 percent, reaching 1,148 points, up from 1,140 in the last session.
Market capitalization gained around 5.8 billion EGP ($794.67 million,) totaling 518.8 billion EGP, compared to 513 billion EGP Monday.
Adham Gamal Eldin, head of the technical analysis desk at Cairo Capital Securities attributed the rise to the positive performance of most blue chips, led by the heavyweight CIB, EFG-Hermes and Talaat Moustafa.