CAIRO: The Egyptian Exchange (EGX) rallied Tuesday, getting support from positive performance of blue chips amid an investor upbeat sentiment.
The benchmark index EGX30 rose by 1.26 percent, registering 9,954 points, compared to 9,830 Monday. Also, the small and mid-cap index EGX70 hiked 1.95 percent to hit 589.6 points, up from 578.4 points in the last session and the broader index EGX100 increased by 1.54 points, recording 1,162 points.
Market capitalization lost around 400 million EGP ($52.46 million) Tuesday, edging toward 538.3 billion EGP, compared to 538.7 billion EGP Monday.
The market hit a positive note as the EGX30 added 1.26 percent (123.88 points,) as 25 of 30 index movers closed in the green area, Adham Gamal Eldin, head of the technical analysis desk at Cairo Capital Securities.
This significant rise was driven by the bulls, who continued their buying attitude, pushing the index far from the support area of (9,800-9,830 points) accompanied with a heavy turnover compared with last week, said Gamal.