Stock market gains LE7.7 bn on Tuesday

Stock indices rose at the end of Tuesday’s trading, supported by Arab and Egyptian purchases.
 
The main EGX30 index rose by 3.11 percent to close at 5408.2 points.
 
Total trading reached LE613.1 million, more than the daily average of LE300 million.
 
The market capital earned LE7.7 billion to hit LE364.6 billion.
 
The small and medium shares index EGX70 rose by 2.35 percent to 460.6 points, and the broader EGX100 index rose by 2.25 percent to 774.1 points.
 
Financial expert Mohsen Adel attributed the rise to the United States suspending its strike against Syria, and to Qatar depositing the second and third tranches of its aid to Egypt, a move towards a more stable relationship between the two countries.
 
He added that investors will be encouraged once political stability is achieved, which Ihab Saeed, a board member of a brokerage firm, agreed with.
 
Edited translation from Al-Masry Al-Youm