During Monday closing session, the Egyptian Exchange (EGX) has extended posting gains of EGP 4.4 billion as the capital market has amounted to EGP 402.316 million. The EGX indices closed in green. The main index, EGX30 soared by 1.73% to end at 5893.31 p. EGX20 climbed by 1.48% to close at 6891.42 p. Meanwhile, the mid- and small-cap index, the EGX70 pushed up by 0.94% to conclude 546.61 pts. Price index EGX100 surged by 1.18% to finish at 899.94 p. EGX has resumed trading on Monday after a one-day suspension due to Eid Al-Adha vacation. An IMF team is expected to come to Cairo for talks on Tuesday, after the Eid Al-Adha holidays, according to Egyptian and IMF officials. IMF Managing Director Christine Lagarde was quoted by Egypt's MENA news agency in Washington as saying she was "optimistic that the loan negotiations would be completed by mid-November". A loan deal would for the time being lay to rest lingering concern in the markets that Egypt might run out of foreign reserves to support the value of its currency. Reserves have dropped by more than half since the start of last year. But well before any loan agreement is reached, markets will be sensitive to any indications from the talks of whether the IMF is satisfied with Egypt's plans for economic reform. Traded volume reached 151.730 million securities worth EGP 579.476 million, exchanged 26.689 thousand transactions. This was after trading in 169 listed securities; 32 declined 121 advanced while 16 keeping their previous levels. EGX's closing gains were backed by the non-Arab foreigners' buying transactions. Egyptians and Arabs were net sellers 64.21% and 7.1% respectively, of the total markets, with a net equity of EGP 36.049 million and EGP 6.420 million excluding the deals. On the other hand, non-Arab Foreigners were net buyers seizing 28.68% of the total markets, with a net equity of EGP 42.470 million excluding the deals. Leading Shares: EGX's leading shares witnessed upwards. Orascom Construction Industries: Orascom Construction Industries – OCI (OCIC.CA)'s stock jumped by 2.48% to close at EGP 269.67. Omar Darwazah, Investor Relations Manager at Orascom Construction Industries (OCI) said the meeting between his company and the Tax Authority was postponed till after Eid ul-Adha vacation. OCI faces a tax inquiry from the Tax Authority related to a supposed unpaid tax liability from 2007. Orascom Telecom Media & Technology Holding: Orascom Telecom Media & Technology Holding (OTMT.CA)'s stock climbed by 1.61% to finish at EGP 0.63. Orascom Telecom Holding: Orascom Telecom Holding (OTH) (ORTE.CA) pushed up by 1.33% to end at EGP 3.80. Citadel Capital: Citadel Capital (CCAP.CA)'s stock soared by 1.19% to conclude at EGP 4.24. EFG-Hermes: EFG-Hermes Holding (HRHO.CA) surged by 0.99% to finish at EGP 12.19.
