The Egyptian Exchange (EGX) jumped into the green, recording a market cap. of EGP 2.074 trillion, amid Egyptian selling after the CBE reported inflation rising for the first time in months
The Egyptian Exchange (EGX) jumped into the green, recording a market cap. of EGP 2.074 trillion, amid Egyptian selling after the CBE reported inflation rising for the first time in months.
On Tuesday, the central bank revealed that Egypt's annual core inflation rate accelerated by 0.7% in August to 25.1 percent, with the monthly urban headline inflation jumping 2.1%.
Benchmark index EGX 30 jumped by 1.27% to close Wednesday trading with 30,485.63 points, with the Shariah index up by 0.93% to hit 2,940.39 points.
EGX 70 climbed 0.44% to reach 7,102.96 points, followed by EGX 100 increasing by 0.81% to end the session at 10,158.05 points.
Wednesday trading saw 802.69 million shares exchanged with a turnover of EGP 3.568 billion.
Trading on securities saw Egyptian traders as net sellers with EGP 73.90 million. Foreign and Arab traders were net buyers with EGP 40.73 million and EGP 33.21 million, respectively.
The top gains of the session were by General Company for Land Reclamation, Development & Reconstruction which surged by 19.99%, El Arabia for Land Reclamation by 19.14%, and Egyptian Gulf Bank by 18.62%.
The largest losses were by National Housing for Professional Syndicates which dropped by 7.2% and North Cairo Mills by 5.08%.
