EGX rallies on local institutions’ purchases, benchmark up 1.2%
Egyptian stock exchange - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) rallied at the close of Tuesday’s session, boosted by positive performance of property stocks after strong financial results.

Backed by local institutions’ purchases, the benchmark index EGX30 edged up 1.17 percent to end at 8,182 points, compared to 8,087 points on Monday.

Property developer Emaar Misr jumped 2.69 percent at the close after posting a 283 percent hike in net profit for the first half of 2015. Heliopolis Housing also jumped 2.68 percent after it had reported an 11.4 percent rise in FY 2014/2015 (ended June 30) net profits.

Market capitalization gained around 3.7 billion EGP ($472.52 million,) totaling 497.3 billion EGP, up from 493.6 billion EGP on Monday.

The market bellwether, CIB, rose 1.32 percent to close at 56 EGP per share, compared to 55.27 EGP per share on Sunday.

Further, the small and mid-cap index EGX70 jumped 2.2 percent to end at 463.5 points, up from 453.5 points in its last session.
The broader index EGX100 also went up 1.22 percent, to close at 948.4 points.

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