CAIRO: Foreign investors continued to buy into the Egyptian market on Sunday, helping its main indexes rise for the third straight session, brokers said.
The benchmark CASE 30 index gained 0.89 percent to a closing of 8,449.56 points, while the Hermes index .HRMS was 1.09 percent higher at 738.94 points.
The broader CIBC-100 index climbed 2.71 percent to 404.54 points.
Foreigners were net buyers today and in the few previous sessions and this created a positive sentiment in the market, said Iman Youssef of Delta Rasmala Securities.
Non-Egyptian and Non-Arab investors were net buyers on Sunday by a margin of LE 38.66 million ($7.19 million), and accounted for 17.3 percent of buying value, according to the stock exchange data.
Youssef said shares in investment bank EFG-Hermes attracted most of the interest of foreign funds to last trade 3.32 percent higher at 48.50 pounds.
Orascom Telecom also rose LE 0.48 to LE 54.80, while Commercial International Bank (CIB) gained 2.59 percent to LE 47.60.
But shares in Orascom Construction Industries bucked the market trend losing 2.64 percent to last trade at LE 330.15, after gaining more than 13 percent since Aug. 20 to Thursday s closing.
The company said it would pay what is worth $1 of dividend per share and this was much less what the market has been expecting, Youssef said. -Reuters
