The Financial Brokerage Group topped the transactions of Egyptian stockbrokers in February, accounting for 15.8% market share with a turnover of EGP 6bn and 63,000 transactions executed on 867.6 million securities.
The Commercial International Brokerage Company (CIBC) ranked second, advancing by one position, with transactions worth EGP 3.5bn, a market share of 9.3%, and trading volumes of 558.2 million shares executed through 67,700 transactions.
Hermes Brokerage stepped back by one rank to settle in third place, acquiring 9.2% of the market share and a trading volume of about one billion shares.
Securities trading figures stabilised for the second consecutive month, ranking fourth, capturing 4.4% of the market share, and trading values amounting to EGP 1.69bn through 147.3 million securities.
Mubasher International advanced by one position, settling in fifth place with a market share of 4%, trading values that amounted to EGP 1.55bn, and transactions of 970m shares.
Mostafa Al-Debawy — the Managing Director of MubasherTrade Egypt — said that Mubasher seeks to maintain its presence among the top ten companies and seize a larger market share during the coming period. It is preparing to launch five to seven new marketing branches in new geographical areas this year.
He added that the company recently activated the license to trade in securities for non-residing foreigners in 70 markets, in addition to providing the service of buying and selling investment fund documents through the electronic application.
Moreover, he revealed that the company is preparing to implement a new deal for a major company in the non-banking financial sector.
He added that the Egyptian Exchange (EGX) is a very attractive market, especially that the shares are traded at values that are less than the fair value, given the announced and expected business results.
Naeem Brokerage advanced by three positions, settling in sixth place with a trading value of EGP 1.53bn. The volume of trading amounts to 436.4m shares with a market share of 4%.
It was followed by Beltone Securities in seventh place, which stepped back by two positions to acquire 3.9% of the market share and trading values of EGP 1.485bn.
Pioneers for Securities moved back by one position last month to settle in eighth place with 3.7% the market share and trading values amounting to EGP 1.42bn through transactions on 848 million shares.
There is also Al-Ahly Pharos in ninth place with a market share of 3.6% and trading values of 1.33bn.
Amer Abdel Qader — the Head of the Brokerage Sector for Development at Pioneers Securities — said that the change in the company’s rank is due to the outbreak of the war between Russia and Ukraine and the intense fear that affected investors due to the possibility of a global war arising.
He said that he expects the market to recover during the coming period in light of absorbing a large part of the shock during the past days, in conjunction with the recovery of global stock exchanges and the strong business results companies achieved in the EGX.
Abdel Qader added that the company is currently focusing on the transactions of individuals and institutions, pointing out that Pioneers is currently working to finish the development of the holding company’s website to open its new branch in Galleria 40 in Sheikh Zayed within a month.
Prime Securities also joined the top 10 after it advanced by 10 positions last month with a market share of 3.3%, trading values of EGP 1.25bn, and a market share of 2.1%.