CAIRO, March 23 (Xinhua) -- Egypt's Stock Exchange (EGX) indices witnessed a surge in trading sessions on Monday, regaining 16.5 billion Egyptian pounds (1.05 billion U.S. dollar) amid measures to boost national economy amid COVID-19 spread.

By the closing session, EGX 30 increased by 3 percent at 10,047 points, EGX 70 rose by 4 percent, and EGX 100 grew by 4.3 percent, according to official Ahram Online news website.

The purchasing process was dominated by institutions with 96.63 percent, while individual purchases declined to only 3.36 percent.

Meanwhile, Egyptians drove the purchasing operations with 13.055 billion pounds, Arabs with 522.140 million pounds, and foreigners with 411.403 million pounds.

EGX capital market recorded 540.835 billion pounds, regaining 16.5 billion pounds, with total operations of 14 billion pounds.

Egyptian President Abdel-Fattah al-Sisi directed the Central Bank of Egypt (CBE) on Sunday to pump 20 billion pounds in support of the EGX to shore up the money market against the coronavirus outbreak.

Last week, Sisi allocated 100 billion pounds to finance the anti-COVID-19 comprehensive plan and its precautionary measures.

Also last week, the CBE decided to cut interest rates by 300 basis points in light of the recent global developments following the COVID-19 outbreak.

The money will be used to face any repercussions that will occur in Egypt as a result of the emerging coronavirus, including the expected economic damage.

Meanwhile, chairman of Egypt's state-owned Banque Misr Mohamed al-Etribi said Egyptians bought high-return deposit certificates for 4 billion pounds in one day.

Al-Etribi said the interest rate on 'Good Egypt' certificates is 15 per cent, according to Ahram Online, adding that it is issued by two state-owned banks -- the National Bank of Egypt and Banque Misr.

Egypt, a country with a population of 100 million people, has confirmed 366 COVID-19 cases, including 19 deaths. Enditem

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