Egypt bourse gains EGP 4.5bn; main gauge crosses 5300 on GCC aid

Indices of the Egyptian Exchange (EGX) ended collectively higher in the first session during Ramadan, powered by the USD 8 billion financial aid given to Egypt by Saudi Arabia and the UAE. Benchmark index EGX30 jumped 0.66%, or 35.12 pts to 5325.14 pts. Similarly, EGX70 climbed 2.67%, or 11.31 pts to 435.25 pts. The broader index EGX100 ended 1.82%, or 13.26 pts higher at 742.19 pts. Market capitalization added nearly EGP 4.5 billion to record EGP 356.584 billion, compared with EGP 352.119 billion yesterday. More than 495.7 million shares were exchanged in 20,000 transactions at a total value of above EGP 147.29 million. The market rally was buoyed by the buying tendency of nationals who purchased and sold shares worth EGP 403.6 million and EGP 347.05 million respectively, with a buy/sell difference of more than EGP 56.56 million. Meanwhile, foreign and Arab traders were net sellers by EGP 54.8 million and EGP 1.7 million in a row.