CAIRO, Jan 28 (Aswat Masriya) – Concluding Thursday's session, Egypt's main stock market index EGX 30 increased by 0.44 per cent, closing off at 5,986 points, in the third consecutive rise this week.

Meanwhile, the EGX 70 index for small and medium enterprises did not witness any changes during Thursday's session. The broader EGX 100 rose up by 0.12 per cent.

Egyptian and Arab dealings were inclined towards purchases, with net purchases of EGP 20 million and 6 million respectively. Non-Arab foreign investors recorded net sales of EGP 27 million (1 US dollar = 7.83 Egyptian pounds).

Arab and Gulf markets also recorded an increase in Thursday's session, signaling a recovery after a series of losses incurred due to the drop in oil prices globally.  

After a general decline since the beginning of 2016, which witnessed the lowest oil price in 13 years, Brent crude prices climbed up two sessions in a row, reaching $33.28 per barrel.

Egypt's bourse suffered sharp losses since the beginning of the year due to the continuous drop in global and gulf markets which surged significantly last week on Monday and Tuesday after the presidency's announcement to offer shares of state-owned companies and banks in the stock market.

Egypt's main index EGX 30 incurred losses of 15.8 per cent since the beginning of the year and until Tuesday's trading.