Egypt's market rises while turnover stabilises

Egypt’s benchmark index inched up 0.7 percent to register 7,086 points on Tuesday.

Turnover was LE546 million ($78.4 million).

"Turnover of listed stocks is expected at this level as the market hit record highs last week and last session and now it is stabilising," Ashraf Abdel Aziz, head of institutional sales at the Cairo-based Arabia Online Securities, told Ahram Online.

Arab investors were net buyers at LE10 million ($1.43 million) while most sellers were Egyptians.

Out of 178 traded stocks 98 were gainers.

In the financial services sector, Arabia Investments Development Holding rose 3.93 percent to LE1.85 ($0.27) per share while EFG-Hermes and CIB both fell 0.09 percent and 0.12 percent, closing at LE10.8 ($1.94) per share and LE32.61 ($4.68) per share, respectively.