Stock exchange gains LE1 billion in Sunday trading

The main EGX30 index of the stock exchange went up 0.61 percent on Sunday, compensating earlier losses, on a day that saw stocks gain LE1 billion before closing.

Stocks earned LE1 billion, in a total trading of LE228.4 million, through 13,711 transactions.

The EGX30 index closed at 5308 points, while the EGX100 climbed by 11 percent to 735 points.

However, the small and medium shares index – the EGX70 – dropped by 0.17 percent, falling to 428 points in total.

Foreign investors were buying throughout the session, while Arab and Egyptian investors turned to selling by the end of trading.

Ihab al-Saeed, a board member on a brokerage firm, said the formation of the new interim administration had pushed the market upwards, particularly since ministers with renowened political and economic experience had been selected.

Edited translation from Al-Masry Al-Youm