Bourse Chairman Says 4 Heavyweight Firms Will Make A Major Leap In January

Egypt’s bourse chairman Mohamed Omran said 3 or 4 companies he described as “Heavyweights” will make a major leap in the Egyptian stock market in January.

Omran said that 243 new companies were accepted with a capital of LE1.9 billion, 10 times the number of firms in the year ago.

Trading volume in 2014 reached LE189 billion, the highest since 2010, Omran added, saying that the daily trade volume is around LE700 million.

Omran advised small investors with no experience in trading not to risk buying stocks, and to use trading companies to avoid risk due to the sudden unjustified rise and fall in stocks which causes panic among investors in case of the latter.