The Egyptian stock exchange’s benchmark index, the EGX-30, recorded an increase of 1.04% Tuesday, rising to 9010.31 points for the first time since 2008.
CEO of Catalyst Partners Finance and Stock Ali Al-Taheri said that the surge followed a number of positive economic measures which prompted an improvement in the market performance.
Al-Taheri denied any relationship between the market jump and the inauguration of the Suez Canal Axis Development project. On Tuesday, President Abdel Fattah Al-Sisi headed to Ismailia to launch the national project and announce a new Suez Canal project.
The EGX-70, which includes small and medium sized companies, has witnessed a minimal increase of 0.18%, recording 628.22 points. The EGX-100 has risen 0.81%, recording 1,115.17 points; meanwhile, EGX-20 hiked 1.7%, marking 10,804.3 points.