The Egyptian Exchange (EGX) index set on Thursday a new record high of 13,850 points during morning trading.

Brokers told MENA that the EGX 30 benchmark index rose 1.2 percent backed by strong purchases by Arab and foreign institutions of shares of banking, communications and real estate sectors.

The market capital hit 4 billion pounds today to close at 715 billion pounds.

Hussein el Sayed, money market expert, said the performance of the Egyptian money market was positively affected by the report of Fitch Ratings on the Egyptian economy.

The global leader in credit ratings lauded positive steps taken by Egypt lately as part of its economic reform program.