Egyptian stock market indices rose during Sunday trading, after the Supreme Constitutional Court canceled a session to consider the legality of the Shura Council and Constituent Assembly.
The EGX 30 Index rose by 1.8 percent, gaining 86 points to reach 4,894. The total value of trading reached LE200.4 million.
Sunday’s gains recouped about LE4 million of last week’s total loss of LE33.7 billion, due to the political unrest following President Mohamed Morsy’s issuing of a constitutional declaration on 22 November.
Mahmoud Abdel Rahman, head of investment at a securities trading company, said the SCC’s postponement relatively calmed investors’ fears over the heated political scene.
Political incidents still control investors’ actions, Abdel Rahman said, referring to their anxiety over continued protests in support and opposition of the declaration.
Despite the recent drop, foreign investors bought relatively high numbers of shares, and sales from Arabs and Egyptians were up, he added.
Edited translation from Al-Masry Al-Youm
