Egyptian Stock Exchange Sees Collective Increase in Trading

The Egyptian Stock Exchange recorded a collective increase at the end of trading, with the main index breaking a solid barrier above 31,000 points. According to Mohamed Lotfi, Managing Director of Fleet Securities Trading Company, the index is now moving strongly to reach the 34,500 point level before the end of the year.

Factors Supporting the Market

Lotfi cited several factors supporting the market, including new investment projects between Egypt and some Gulf countries such as Saudi Arabia, Kuwait, and the Emirates. These projects have led to an increase in liquidity and a return to investors.

Market Performance

The market capitalization of stocks listed on the Egyptian Stock Exchange increased by 1.1%, with shares gaining about 22 billion pounds. The market capitalization closed at 2.092 trillion pounds.

Indices Performance

The EGX30 index rose 1.44% to close at 30,937 points. The EGX 70 equal-weight index of small- and mid-cap stocks closed up 0.1% at 7,100 points. The EGX 100 Equal Weight index recorded an increase of 0.38%, closing at 10,169 points.

Trading Value and Volume

The total trading value on the Egyptian Stock Exchange decreased to 304.7 billion pounds. The trading volume was about 3.282 billion securities executed in 381 thousand transactions. In-booth accounts for a 5.19% share of the total trading value, while bonds and treasury bills represent about 94.81% of the trading value.

Trading Volume Distribution

The total trading volume of the companies listed in the stock market index is distributed among 9.6 billion pounds in the main stock market index “EGX30”, with a trading volume of 619.5 million executed securities and 147.5 thousand transactions. The trading value of shares in the EGX70 index is approximately 4.012 billion pounds, with a trading volume of 1.9 billion securities executed through 137.2 thousand transactions.