Cairo - Mubasher: The Egyptian Exchange (EGX) ended Tuesday’s trading session in green, on the back of the buying activity of Egyptian and Arab investors, despite ongoing negotiations regarding imposing the stamp duty tax on the capital market.
The benchmark index EGX30 added 1.72% or 213.64 points, and closed at the level of 12,567.82 points.
The EGX70 index also went up by 0.79% to 494.16 points, while the broader index EGX100 increased by 0.96% to the level of 1,191.25 points.
Similarly, the equal-weighted index EGX50 grew 2.23% and closed at 1,992.65 points.
The Egyptian deputy finance minister for tax policies, Amr El Mounir, told Mubasher on Tuesday that imposing the stamp duty on the stock market is inevitable, noting that the ministry is discussing with the involved parties to reach the best application techniques.
Traded values reached EGP 1.47 billion, with volumes of 467.9 million shares.
Alexandria Mineral Oils Company led the session’s gainers and surged 9.99% to EGP 101.59, while Iron and Steel and Porto Group jumped 9.91% and 7.69%, respectively.
The stock of the Commercial International Bank - Egypt (CIB), which has the biggest weight in the main index, rose 1.67% to EGP 76.
Egyptian and Arab investors leaned towards buying, netting EGP 106.12 million and EGP 12.1 million, respectively, while foreign investors were net sellers at EGP 118.23 million.
Today, the market capital increased by EGP 7.7 billion, and closed at EGP 615.7 billion.
