Stock market earns LE600 million on Sunday

Stock indices on the first trading session of the week were in the green zone. The main EGX30 index rose by 0.31 percent to close at 5185.9 points, the small and medium shares EGX70 index rose by 0.53 percent to hit 443.5 points, and the broader EGX100 index rose by 0.44 percent to 747.4 points.
 
Total trading reached LE190 million through 14,300 transactions, and market capital earned LE600 million to reach LE352.9 billion.
 
Egyptian investors leaned towards buying, while Arab and foreign investors were more inclined to sell.
 
Ahmed Helmy, member of the American Association of Professional Technical Analysts, said indices went up due to investor optimism for political stability. This optimism comes after the convening of the first session of the constitution committee, which investors consider the most important step towards the roadmap [for reconciliation].
 
He predicted a recovery in light of the continuing decline in Arab stock exchanges for four consecutive sessions due to an anticipated US strike against Syria.
 
Meanwhile, the administration denied rumors about privatizing the stock exchange and converting it into a joint stock company and said it is devising self-organizing mechanisms to increase efficiency.
 
Edited translation from Al-Masry Al-Youm