Stock market trading ends in the green, driven by Arab purchasing

Cairo – March 12, 2205: The Egyptian Exchange (EGX) surged into the green on Wednesday. Market capitalization was recorded at LE 2.2887 trillion.

Benchmark index EGX 30 was up during Wednesday trading, rising by 0.37 percent to close with 31,049.03 points. The Shariah index rallied, surging by 1.17 percent to reach 3,342.55 points.

EGX 70 increased by 0.82 percent to 8,737.67 points, followed by EGX 100 with a climb of 0.91 percent to end the session with 12,115.24 points.

Wednesday trading saw over 1.494 billion shares exchanged with a turnover of LE 3.929 billion.  

Trading on securities saw Egyptian and foreign traders as net sellers with LE 24.6 million and LE 83.14 million, respectively. Arab investors were net buyers with LE 107.7 million.

The top gains of the session were by Egyptian for Tourism Resorts which surged by 19.92 percent, General Silos & Storage by 14.28, and Memphis Pharmaceuticals by 13.26 percent.

Other notable gains were by GB Corp by 8.82 percent, Orascom Development Egypt by 6.05 percent, and Dice Sport & Casual Wear by 5.56 percent.

The largest losses of the session were by Arabian Cement Company which slipped by 4.72 percent, Cairo Poultry by 4.4 percent, and Unipack by 3.56 percent.