EGX posts strong gains in January after presidential elections

Daily News Egypt
2 Min Read

The Egyptian Exchange (EGX) witnessed significant gains in January, boosted by strong buying activities across different market sectors. The positive economic outlook following the presidential elections and the confirmation of President Abdel Fattah Al-Sisi’s re-election for a new term until 2030 also supported the market performance.

According to the monthly report of the EGX, the main index, EGX 30, rose by 13.61%, reaching 28,281.91 points. The EGX70 EWI for small and medium-sized stocks also increased by 15.59%, reaching 6,326.98 points. The broader EGX100 EWI advanced by 14.03%, reaching 8,985.61 points. The market capitalization of listed companies on the exchange reached EGP 1.968trn, up from EGP 1.719trn, marking an increase of 14.5%. The total trading value amounted to around EGP 1.136trn, executed through 30.379 million transactions on 3.475 million stocks. This was higher than the EGP 909.4bn traded through 30.070 million transactions on 2.671 million stocks in the previous month.

The stock market represented 10.74% of the total trading value in the market, while bonds accounted for 89.26% during the month.

Egyptian investors dominated 90.6% of the total transactions in listed stocks, while foreigners and Arabs accounted for 3% and 6.5%, respectively, excluding deals. Foreign investors recorded a net purchase value of EGP 2.034bn, while Arabs recorded a net purchase of EGP 707m, excluding deals.

Share This Article
Leave a comment