Egypt’s EGX spearheaded Arab stock markets over last week, rose by 1.7%: AMF


Egypt’s stock exchange (EGX) performance spearheaded Arab stock markets throughout last week, as its benchmark index EGX 30 rose by 1.7 percent, according to the Arab Monetary Fund (AMF).

In its weekly bulletin on Arab stock exchange performance, AMF said that Egypt’s stock exchange recorded an increase during the same week over the market value level by 2.01 percent, mainly in textiles; durable goods; freight and transport services as well as trade sectors.

For stock trading value, Egyptian stock exchange was the only one among other Arab bourses that grew last week, going up to EGP 10.5 billion from the EGP 10 billion recorded a week earlier, as according to the AMF.

On the other hand, Egypt’s bourse trading volume contracted with 106.1 million securities to reach around one billion securities.

The AMF also noted that 13 Arab stock exchanges recorded an increase in its main indices. These include Egypt, Dubai, Tunisia, Abu Dhabi, Saudi Arabia, Muscat, Amman, Palestine, Bahrain, Qatar, Casablanca, Iraq and Kuwait, respectively.

During the mentioned week, net foreigners sales recorded EGP 927.4 million, while Arabs recorded net purchases by EGP 699.2 million, according to Egypt’s stock exchange data.