By Islam Serour
Commercial International Bank (CIB) and Hermes Financial group represented one-third of the total market turnover on Tuesday, after two weeks of stability.
The CIB stock witnessed active turnover due to deals by foreign institutions, and closed out at EGP 28.5 after exceeding the EGP 28 barrier, scoring a 1.3 percent increase.
In the same vein, EFG-Hermes took a high percentage of the liquidity in the market achieving an increase of 2.3 percent, closing out at EGP 10.85.
Among Tuesday’s winners is Orascom Group, which controlled up to 27 percent of the market turnover. Orascom Telecom topped the winners by exceeding EGP 3.65, while Orascom for Construction and Industry managed to exceed EGP 275 and closed out at EGP 275.6. However, Orascom Telecom media and Telecommunication Holding was stable at EGP 0.55.
Trading operations on Tuesday included 178 million stocks in 16,000 transactions, reaching a turnover value of up to EGP 360.95 million. Total market capital reached EGP 352 billion.
The main index EGX30 rose 1.27 percent to close out the session at 5100.5 points, targeting 5200 points, and the broader index; EGX70 closed out with a 0.66 percent increase, breaking the 445 point benchmark, remaining comfortably above it and then settling at 448.04 points. It is expected that the 455 point target will soon be met. Meanwhile the general index EGX100 increased by 0.82 percent to close out at 775.14 points.
The results of Tuesday’s trading were satisfactory to investors and trading companies, especially as it is the last week of Ramadan and right before the Eid holydays.