By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    Egypt’s IDA gears up to provide its services for investors online
    Egypt’s IDA gears up to provide its services for investors online 
    March 29, 2023
    Egypt. Germany discuss promotion of cooperation in communications, digital transformation
    Egypt, Germany discuss promotion of cooperation in communications, digital transformation
    March 29, 2023
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador
    March 29, 2023
    Volatile trading on EGX amid anticipation of interest rate movement
    Volatile trading on EGX amid anticipation of interest rate movement
    March 29, 2023
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt
    March 29, 2023
  • Politics
    PoliticsShow More
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    Ugandan president says peacekeepers will help stabilize eastern DR Congo
    March 31, 2023
    Formes US President Donald Trump Is Indicted in New York
    Trump indicted in hush-money payment case
    March 31, 2023
    Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
    Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
    March 30, 2023
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
    March 29, 2023
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    Health Minister, UNODC discuss bilateral cooperation in combating drugs, corruption
    March 29, 2023
  • Interviews
    InterviewsShow More
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    Developers have to offer innovative products, state should provide more facilities to stimulate industry: Kareem Mamoun
    March 27, 2023
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    Government should help Egyptian arts revive its pioneering role: Omar Abdel Aziz
    March 15, 2023
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    Interconnected healthcare systems in Africa require political will from North African leaders: Amref official
    March 12, 2023
    EGX ready for government’s IPOs programme: Chairperson
    EGX ready for government’s IPOs programme: Chairperson
    February 15, 2023
    British International Investment invests $4.5bn in 700 businesses across Africa: Sherine Shohdy
    February 15, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Advanced negotiations between Egypt, IMF push EGX to green zone
Share
Notification
Latest News
Ugandan president says peacekeepers will help stabilize eastern DR Congo
Ugandan president says peacekeepers will help stabilize eastern DR Congo
Politics
Formes US President Donald Trump Is Indicted in New York
Trump indicted in hush-money payment case
Politics
Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Iranian FM says Tehran, Moscow taking final step toward signing long-term cooperation agreement
Politics World
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Advanced negotiations between Egypt, IMF push EGX to green zone
Business

Advanced negotiations between Egypt, IMF push EGX to green zone

Fatma Salah
Last updated: 2022/10/17 at 10:50 PM
By Fatma Salah 4 Min Read
Share
Advanced negotiations between Egypt, IMF push EGX to green zone
SHARE

Negotiations between the International Monetary Fund (IMF) and the Egyptian Government witnessed great progress after announcing an agreement at the staff level on the components of the programme, which helped the stock market to end Monday’s trading session in the green zone.

Daily News Egypt learned that last Saturday’s meeting between the Egyptian Government delegation and the IMF witnessed reaching an agreement on the components of the reform programme, but so far, the exact amount of the loan has not been agreed upon.

The sources added that the Egyptian Government is seeking to reach a final agreement on the loan this week, before the start of the economic conference next week.

Mohamed Hassan, Managing Director of Blom Egypt Investments, said that reaching an IMF agreement would stimulate foreign investment and give confidence to investors.

He explained that the agreement means an increase in the value of the dollar against the Egyptian pound, which is reflected in the decrease in the value of shares and gives them more attractiveness to investors, especially foreigners, especially after the stability of the exchange rate.

He stressed that it will reflect positively on the Egyptian financial market, noting that the important support area for the main index is at 9,650 points, and the most important resistance is at 10,250 points, pointing out that breaking the support up will bring the index to the level of 10,600 points.

He advised investors to trade quickly and wait for confirmation of breaking the support to form new positions, in anticipation of any corrective movement.

The benchmark index EGX30 closed on Monday, with an increase of 1.02% to reach 10,151 points, and EGX50 EWI rose by 1.29% to 1,930 points.

EGX70 EWI recorded an increase of 0.58% to reach 2,199 points, EGX30 capped achieved a rise of 1.34% to 12,490 points, and the broader EGX100 grew by 0.80% to 3,150 points.

The market recorded trading values ​​of EGP 1.215bn through the circulation of 483 million shares, by implementing 45,000 buying and selling operations, after trading was done on the shares of 202 listed companies, of which 80 shares rose, and the prices of 41 securities declined, and the prices of 81 shares did not change. The market capitalization of the listed shares reached EGP 703.4bn.

The net transactions of Egyptians alone tended to buy, recording EGP 305m, with a 74.71% acquisition of the shares, while the net transactions of foreigners and Arabs tended to sell, recording EGP 292.8m and EGP 12.4m, respectively, with acquisition rates of 14.89% and 10.41% respectively.

Individuals carried out 81.83% of the transactions, heading towards buying, with the exception of Arab individuals, who recorded a net sale of EGP 3.5m, and institutions captured 18.16% of the trades, heading towards selling, with the exception of Egyptian institutions, who recorded a net purchase of EGP 249.2m, while foreign and Arab institutions recorded a net sale at a value of EGP 293.4m, EGP 8.88m, respectively.

You Might Also Like

Egypt’s IDA gears up to provide its services for investors online 

Egypt, Germany discuss promotion of cooperation in communications, digital transformation

Egypt-Australia trade exchange reaches AUD 1bn in FY2022: Ambassador

Volatile trading on EGX amid anticipation of interest rate movement

Mohamed Nasr El-Din appointed as new CEO of Telecom Egypt

TAGGED: EGX, IMF
Share this Article
Facebook Twitter Email Print
Previous Article Health Minister reviews preparations for launching mental health initiative  Health Minister reviews preparations for launching mental health initiative 
Next Article Water, Environment Ministers discuss outcomes of coastal adaptation to climate change  Water, Environment Ministers discuss outcomes of coastal adaptation to climate change 
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

Ugandan president says peacekeepers will help stabilize eastern DR Congo
Ugandan president says peacekeepers will help stabilize eastern DR Congo
Politics
Formes US President Donald Trump Is Indicted in New York
Trump indicted in hush-money payment case
Politics
Humza Yousaf is to be the first minister of Scotland after narrowly winning the election for leader of the Scottish National Party
Humza Yousaf becomes Scotland’s first minister: A decade of polls suggest he’ll struggle to deliver independence, just like Nicola Sturgeon
Politics Opinion
Egypt’s IDA gears up to provide its services for investors online
Egypt’s IDA gears up to provide its services for investors online 
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?