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Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

EGX Records New Historic Peak with Market Gains of EGP 74 Bln


Sun 10 Mar 2024 | 08:58 PM
The Egyptian Stock Exchange (EGX) headquarters, Cairo. (File Photo)
The Egyptian Stock Exchange (EGX) headquarters, Cairo. (File Photo)
Taarek Refaat

The Egyptian Stock Exchange (EGX) strengthened its gains by the end of Sunday’s session, to jump 5.17% and achieve a new historic peak; supported by the purchases of local institutions, which recorded net purchases of EGP 688.9 million, pushing the market cap to achieve gains of EGP 74 billion during the session.

The main index "EGX30" doubled its gains in the last part of the session, jumping 5.217% to close at 32,919.5 points and recording a new historical peak, supported by the jump of the "CIB" stock, which has the largest relative weight, by 6.81% to reach the level of 88.65 pounds.

During transactions, the market cap achieved market gains worth EGP 74 billion, closing at EGP 2.199 trillion.

The index of medium and small companies “EGX70 EWI” rose by 2.5% to settle at the level of 7404.2 points, and the broader index, “EGX100 EWI” rose by 3.07%, settling at the level of 10,596.7 points.

During today's transactions, 1.134 billion shares were traded, with a trading value of EGP 7.49 billion, through 184,000 transactions in 207 shares of which 118 shares rose, and 36 shares declined, while the prices of 53 other shares remained unchanged.

In terms of investor transactions, Egyptians' transactions alone tended towards buying stocks with a net value of EGP 466.2 million, while Arabs and foreigners' transactions tended towards selling with a net value of EGP 274.9 million and EGP 191.3 million, respectively.

The net transactions of institutions tended towards selling, with the exception of local institutions, to record net buying of EGP 688.9 million, while the net transactions of individuals tended towards selling, led by Egyptians, to record net selling of EGP 222.7 million.

The rises were led by "Fawry" and "e-Finance" shares, at 20% and 19.97%, with the two stocks settling at the level of EGP 8.4 and EGP 27.45, respectively.

Shares of Electro Cable, Arabian Cement, and Elsewedy Electric also rose by 14.44%, 12.1%, and 10.86%, respectively, to settle at levels of EGP 3, EGP 14.54, and EGP 47.25, respectively.

The stocks that declined the most during the session were “Misr Oils” by 14.2%, and the shares of “Themar”, “OBRI”, “UASG” and “EKHOA” also declined with decline rates ranging between 8.59% and 4.17%.