Egypt's stock market maintained its upward movement driven by foreign and Arab institution buying activities.
The EGX30 Index gained 1.15 percent recording 8,633.15 points at a turnover of LE564 million.
Arab and foreign institutions were net buyers recording LE31.7 million and LE14 million respectively, while local institutions closed as net sellers at a net flow of LE50.52 million, stock market data showed.
"Local institutions were net sellers recording as per of the Tax Authority decision concerning the diversified stock portfolios that will be subject to 25 percent tax," said Sigma Securities Brokerage.
The market capitalization gained LE4.2 billion to close at LE489,9 billion compared to LE485,7 billion on Monday.
