Yomna Yasser - 2015-04-29 15:43:48
Egypt’s stocks rebounded on Wednesday backed by foreign investors’ buying appetite, to gain 4.7 billion Egyptian pounds (US$616.1 million). Accordingly, the country’s main stock index, EGX30 also surged by 1.9 percent to exceed 8485 points.
This comes following a move made by Egyptian investors who went to court to challenge the government over a tax on stock dividends and capital gains, saying it causes confusion and hampering investment.
The market capitalization has hit 493.053 billion pounds during the closing session of Wednesday.
Egypt’s benchmark index, EGX30 climbed by 1.90 percent to close at 8488.49 points. EGX20 edged up by 1.84 percent to 8874.53 points.
In addition, the mid- and small-cap index EGX70 grew by 1.24 percent to 466.06 points. The price index, EGX100 hiked by 1.38 percent to 954.53 points.
Turnovers remain low On Wednesday, the bourse’s trading volume has recorded 163.638 million securities, with turnovers closed at EGP 620.266 million, exchanged through 22.194 thousand transactions.
Also during the closing session, 169 listed securities have been traded in; 23 declined, 122 advanced; while 21 kept their previous levels. More»