Stock indices rose considerably by the end of Wednesday’s trading session, influenced by an announcement of the Information Council chairman about the government offering a third stimulus package of LE24 billion for infrastructure projects.
The main EGX30 index rose by 1.3 percent to 825,614 points, the small and medium stocks EGX70 index rose by 1.04 percent to 6,094 points and the broader EGX100 index rose by 0.83 percent to 106,432 points.
Total trading hit LE682.9 million in 24,400 transactions and the market earned LE3.5 billion to close at LE478 billion.
Financial expert Ihab Saeed said new financial centers boosted the indices. He expected more gains in May with the presidential elections approaching.
“Steps toward restoring stability and enactment of economic legislation attract more Arab and foreign investments,” he said.
Edited translation from Al-Masry Al-Youm
