Egyptian traders work in the Cairo stock exchange
Egypt’s stock market saw significant gains during the Muslims holy month of Ramadan despite the ongoing political uncertainty in the country, according to reports.
The stock market will re-open on Monday, after the Eid al-Fitr holiday which marks the end of Ramadan.
Investors in Egypt hoping for a return to stability in the country are waiting to see how the interim government will deal with the ongoing sit-ins by Muslim Brotherhood supporters at Rabaa al-Adawiya and Nahda Square in Cairo.
The report on Egypt’s stock market said it had reached 5.14 billion Egyptian pounds (almost $736 million) during the month of Ramadan, which ended on Thursday.
The gains are particularly impressive given dealing times were reduced to just three hours a day over Ramadan.
The main index of Egypt's stock market (EGX 30) made gains of 3.6 percent, while the index of small and medium shares (EGX 70) rose by 1.3 percent.
The report said reduction in liquidity levels during Ramadan were due to a number of factors, including recent instability.