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Local stocks rebound in high liquidity
The Egyptian Gazette Published in The Egyptian Gazette on 15 - 03 - 2018


Ahmed Kamel
Cairo, March 15 – Driven by a non-Arab bullish sentiment, the local stocks rebounded in high liquidity on Thursday. The benchmarkindex EGX30rose by 0.7 per cent to16,999.1points. Thebroader indices EGX70 and EGX100 gained 0.03and 0.18per cent to 899.82 and 2,271.89 points.
Volume totaled LE3.48 billion (around $197.7million), market data showed. Locals and Arabswere net sellers of LE189.96 million and LE193.94million respectively. Non-Arab investors were net buyers of LE383.9million, market data showed.
The EGX50 and EGX20 Capped indices added 0.14 and 0.42 per cent to 2,840.22 and 16,784.25 points respectively. Of a total 184tradedstocks yesterday68 shares rose, 82 fell, 34 remained unchanged, market data showed.
The Financial Regulatory Authority has approved a capital increase of Kafr El Zayat Pesticides and Chemicals Co. to LE120 million, up from LE80 million. Trading on the company's newly issued four million shares will begin on March 19.
Shares in listed property developers are forecast to continue an uptrend this year thanks to growing sales . The country's listed real estate developers include TalaatMostafa, Palm Hills, Sodic and EmaarMisr.
Investment bank Pharos recommended last week an increase in the weight of seven stocks including EFG Hermes, TalaatMostafa Holding and Orascom Construction in the investment portfolio.

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