Financial Securities Brokerage Group took the lead in the securities brokerage companies’ ranking for the transactions in the Egyptian Exchange (EGX) in August after executing transactions worth EGP 26.886.031bn and securing a market share of 23.5%.
Meanwhile, Al-Ahly Pharos Securities came in second place with a market share of 19.7% by trading EGP 22.519.438bn.
In third rank was taken by the Commercial International Securities Brokerage Company, which controlled 6.6% of the market’s transactions during the last month, by executing total transactions worth EGP 7.485.077bn.
Furthermore, Hermes Securities joined the Golden Square with a share of 4.7% of the market, representing transactions worth EGP 5.382.031bn.
Next up, Beltone Securities came in fifth place through transactions worth EGP 3,334.898bn and a market share of 2.9%.
After that, Mubasher International placed sixth, acquiring 2.5% of the EGX’s transactions through a total turnover of EGP 2,839.087bn.
Additionally, Pioneers Securities came in seventh place after executing transactions worth EGP 2,813.358bn and securing a market share of 2.5%.
Amer Abdel Qader — Head of the Brokerage Sector for Development at Pioneers Securities — said that the market witnessed large sales by foreigners that exceeded EGP 2bn, pointing out that the turmoil affected all markets, not only the Egyptian market.
He also pointed out that the return of foreigners to the Egyptian market is linked to raising interest rates, and that they will be in the debt markets more than in the stock market, especially since the American market is currently very attractive.
Abdel Qader added that it is possible to seize the current opportunities in the market by focusing on stocks with expected profitability and generous cash returns.
He also expects a trading boom in the financial market in the coming period after the return of local institutions with purchasing power to save the market.
Getting back on track, Naeem Brokerage ranked eighth with transactions worth EGP 2.751.101bn and a market share of 2.4%.
In ninth place was Arabia Online Securities with a market share of 1.9% and transactions worth EGP 2,164.979bn.
Finally, Cairo Capital Securities ranked tenth with transactions amounting to EGP 2,024.536bn, representing about 1.8% of the market’s share.
The trading values included the main market, the Nile Stock Exchange, and over the counter bonds and deals.