The Egyptian Stock Exchange (EGX) concluded trading on Sunday with a collective rise across all its indices, buoyed by active buying from Egyptian investors.
The market saw robust trading activity as investors took advantage of attractive stock prices, propelling the overall market performance.
The benchmark EGX30 index closed up by 0.53%, reaching 35,811 points. This marked a strong performance for the index, continuing its upward trajectory amid increasing investor optimism.
Meanwhile, the EGX70 EWI, which tracks mid- and small-cap stocks, climbed by 0.38%, settling at 10,708 points. The EGX100 EWI also followed suit, gaining 0.41% and closing at 14,341 points.
The day's trading volume amounted to approximately EGP 3.8 billion, signaling a high level of investor participation. The total market cap surged by EGP 8 billion, closing at an impressive EGP 2.491 trillion.
"The buying activity from Egyptian investors has been the key driver of today's market gains," said an analyst at a leading brokerage firm. This positive sentiment comes after several sessions of volatility, with investors seeking stability and potential growth in local stocks.
Among the most notable players in today’s session was Edita Food Industries, a leading Egyptian company in the snack industry. As Egypt’s food industry continues to attract both local and international investment, Edita's performance in the market has become a focal point for analysts. The company’s stock has witnessed a steady upward trajectory, reflecting investor confidence in its long-term prospects despite the challenges facing the region's economy.
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