CAIRO, Jan 31 (Aswat Masriya) – Egypt's benchmark index EGX 30 closed off Sunday with a 0.1 per cent increase at the end of trading to reach 5,992 points.

The index surged during the first 15 minutes of trading recording a 2.13 per cent increase, to reach 6,614 points.

The index for small and medium enterprises EGX 70 and the broader EGX 100 hiked by 0.15 and 0.1 per cent respectively at the end of trading.

Egyptian investors transactions recorded net purchases of EGP 46 million while Arab and

Director of customer accounts at Okaz Securities Brokerage Ahmed Zakariya attributed the decline to the decision to increase customs duties on some goods. Zakariya pointed out that the decision contributed to an increase in sales by foreign and Arab investors.

President Abdel Fattah al-Sisi approved Sunday a decision to increase customs duties on about 500 imported goods.

In the past week, Egypt's main index EGX 30 climbed up by 4.79 per cent, after a general decline that was caused by a drop in global oil prices.