CAIRO: The Egyptian Exchange (EGX) posted a soft rebound Monday, boosted by an investor upbeat sentiment after President Abdel Fatah al-Sisi promised to end gas shortages at factories within a month.
In a televised speech Sunday, Sisi pledged to end gas shortages for the industrial sector by the end of November, but he did not reveal how the government would secure gas supplies.
The benchmark index EGX30 rose 0.29 percent to end at 7,435 points, up from 7,413 points on Sunday.
The small and mid-cap index EGX70 also added 0.25 percent to close at 391.2 points, compared to 390.2 points in its last session.
Similarly, the broader index EGX100 edged up 0.19 percent to close at 844.8 points after at 843.25 points on Sunday.
Market capitalization gained around 500 million EGP ($62.25 million,) totaling 449 billion EGP, compared to 448.5 billion EGP in the previous session.
Egypt stock market plunged on Sunday hammered after Saturday’s deadly crash of Russian plane over Sinai Peninsula, which killed 224 passengers and crew. The plane was heading from Sharm el-Sheikh Airport to Russia, when it lost radar contact only 23 minutes after taking off.