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Stock market main index rises by nearly 5%

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EGX-30 registers 8498.65 points on Thursday

The Egyptian stock market rose by almost 5% on Thursday.  (AFP File Photo / Khaled Desouki)

The Egyptian stock market rose by almost 5% on Thursday.
(AFP File Photo / Khaled Desouki)

The Egyptian stock market bench-mark index EGX-30 hiked 4.71% to reach 8498.65 points on Thursday, up from 8116.19 the preceding day.

The EGX-70, which encompasses small and medium companies, also rose 3.77%, recording 599.24 points. The broader EGX-100 index jumped 3.82%, marking 1047.93 points.

On Sunday the market witnessed a significant loss of EGP 15.99bn while last Thursday the loss amounted to over EGP 12bn.

Egypt’s stock market registered losses during the presidential elections, held last week. During the first elections day, the bourse’s benchmark index EGX-30 dropped minimally from 8762.86 points on 25 May to 8736.28 points on 26 May, losing almost EGP 1bn.

During the third day of elections, the bourse witnessed a notable plummet, with the market losing over EGP 6bn.

 


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