EGX market watch, March 5: market booms on Sisi remarks
The Egyptian stock exchange - AFP/Khaled Desouki
By YASMINE SAMRA

CAIRO: The Egyptian Exchange’s indexes collectively rose on Wednesday for a second successive session following the Minister of Defense Abdel Fatah el-Sisi’s remarks about the possibility to respond to Egyptians’ desire to run for president on Wednesday.

The benchmark index EGX30 edged up 1.15 percent to close at 8,025 points, compared to 7,933 points on Tuesday.

The market capital rose 490.99 ($70.54 billion), compared to 485.4 billion EGP ($69.7 billion) on Tuesday, scoring 5.5 billion EGP in profits and recovering losses worth 9.6 billion EGP losses on Monday due to intensive profit taking transactions.

The EGX70 index for small and mid-caps higher edged 0.69 percent, the broader index EGX100 also rose by 0.62 percent and the EGX20 index went up 1.24 percent.

The rise was attributed to Arabs and foreigners’ purchases, while Egyptians mostly sold. Egyptians’ net sale reached 32.8 million EGP, while Arabs’ net purchases registered at 25 million EGP and foreigners’ net purchases totaled 7.8 million EGP.

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