By Hisham Salah
Egyptian capital markets have regained their positive growth after unexpected declines following the constitutional referendum results. The main index, EGX-30, increased by 1.31% on Wednesday to close at 7179.54 points, compared to 7089.80 the preceding day.
Mohsen Adel, member of the board of directors of the Egyptian Stock Market, said that “this general increase is due the growing levels of Arab investors”.
Adel said that fears of escalating violence have lessened, with investors believing that the third anniversary of the 25 January Revolution will pass peacefully.
The EGX-70 Index, which encompasses small and medium sized enterprises (SNEs), surged by 0.64% to register 561.22 points, rising from Tuesday’s 557.64 points.
The broader EGX-100 Index also increased by 0.45% from 948.46 to 952.76 points. The capped index EGX-20 closed at 8483.98 points.
Close of business saw 124 gainers, 41 decliners and 14 unchanged.