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Egypt’s stocks rebounded on Thursday to close up the trading that saw non-Arab foreign investors as the only net buyers.

 

The main index EGX30 rose slightly 0.08 percent to register 7,420 points in a session that saw a modest daily turnover for listed securities reaching some EGP443.7 million.

 

Foreigners, who represent around 29 percent of the market’s traders, bought to the tune of EGP20.5 million.

 

Out of 148 listed stocks, 65 saw gains while 45 declined. The two most traded shares Telecom Egypt (TE) and the investment bank EFG Hermes both plunged 4.07 percent to EGP8.73) and 0.78 percent to EGP11.41 respectively.

The heavyweight Commercial International Bank (CIB) inched up 0.05 percent to close at EGP41.99 per share.

 

Ezz steel and Talaat Moustafa Group (TMG) surged 1.23 percent to EGP8.23 per share and 0.86 percent to EGP5.84 per share respectively.

 

Broader index EGX70 up 0.16 percent.

 

*The current official exchange rate for $1 = EGP8.87