By: Ahmed Kamel CAIRO, March 28, 2018 – Motivated by a non-Arab bullish sentiment, Egypt's main index extended gains to all-time high on Wednesday. The benchmark index EGX30 rose by 0.2 per cent to 17,305.51 points, a historic record high. However, the broader indices EGX70 and EGX100 slipped 0.72and 0.75per cent to 863.48and 2,220.8 points respectively. The local investors will keep an eye on Thursday's meeting of the Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE). The MPCmay slash interest rates between 100 and 200 basis points in its meeting on Thursday. A rate cut is expected to increase market liquidity and boost speculation. Cairo-based investment bank Pharos forecast the MPC to cut rates by one per cent, citing lower urban and core inflation rates.The MPC cut the overnight deposit and lending rates by one per cent to 17.75 and 18.75 per cent respectively on February 15. Volume totaled LE3.02 billion (around $171.5million), market data showed.The market capitalization shed LE1.8 billion to LE968.076 billion. Locals and Arabs were net sellers ofLE323.15 million and LE4.5 million. Non-Arab investors were net buyers of LE327.69million, bourse data showed. The EGX50 and the EGX20 Capped indicesrose by 0.52 and 0.56 per cent to 2,943.84 and 17,515.85 points. Of a total 186tradedstocks yesterday73 shares rose, 79 fell, 33 remained unchanged, market data showed.
