Egyptian stock market indexes moved up collectively with the closure of Tuesday’s session, prompted by optimism among Egyptian and Arab investors and largely ignoring sales by foreign traders.
The rise came as Finance Minister Ahmed Galal announced the injection of LE30 billion into the economy as part of a stimulus plan.
The main index, EGX30, moved up by 1.15 percent to close at 6,720.4 points. The more inclusive EGX70 rose by 0.65 percent to 535.56 points. EGX100 recorded a 0.77 percent rise to close at 909.24 points.
Market capitalization gained LE 3.4 billion, ending the session at LE 421.9 billion.
Mohamed al-Husseiny, a financial analyst, said the market’s performance, with its main index exceeding 6,700 points, reflects “a state of stability and enhanced security situation on Egyptian streets.”
Edited translation from Al-Masry Al-Youm
