Stock indexes rose slightly by the end of trading on Thursday, supported by purchases made by Egyptian and foreign investors.
Shares gained about LE300 million after market capitalization went up to LE383.2 billion, recouping part of Wednesday’s LE3.6 billion loss.
The main index EGX30, which tracks the performance of the Top 30 companies, went up by 0.2 percent, gaining 12 points to settle at 5702 points, with transactions worth LE344.2 million.
The index EGX70, which tracks small and medium-sized shares, rose by 0.2 percent, while the broader index EGX100 went up by 0.05 percent.
Brokers said foreigners resumed buying in order to take advantage of low prices after Wednesday’s drop in the value of shares. However, transactions would likely continue to be hesitant, brokers said, in light of ongoing political instability, particularly given the call for more mass protests against President Mohamed Morsy on Friday.
Edited translation from Al-Masry Al-Youm
