EGX rallies on broad-based gains
Egypt’s stock exchange (EGX) enjoyed a strong rebound on Tuesday, with all major indices posting significant gains. The benchmark EGX30 index surged 1.33 per cent to close at 28,210.41 points, while the Shariah index, EGX33, climbed even higher at 2.32 per cent.
The positive sentiment extended to broader market indices as well. The EGX70 index, representing small and mid-size enterprises, jumped 3.05 per cent, while the EGX100 index, encompassing the top 100 listed companies, gained 2.71 per cent.
Total market capitalisation recorded 1,922,625,461,029 Egyptian pounds.
The rally was fueled by buying activity from domestic and Arab investors, who purchased a net total of 1,861,392,417 Egyptian pound and 6,686,029,747 Egyptian pounds, respectively. Non-Arab foreigners, on the other hand, were net sellers of a net total of 8,547,422,164 Egyptian pound.
Top Risers
- Shares of Misr National Steel (ATAQA) (ATQA.CA) spiked by 15.82 per cent, to close at the price of 3.660 Egyptian pound a share.
- Shares of Iron and Steel for Mines and Quarries (ISMQ.CA) jumped by 15.31 per cent, to trade at the price of 4.970 Egyptian pound a share.
- Shares of Memphis Pharmaceuticals and Chemical Industries SAE (MPCI.CA) pushed 12.62 per cent higher, to the purchasing price of 39.900 Egyptian pound a share.
Top Fallers
- Shares of Egyptian Arabian Company Themar for Securities Brokerage SAE (EASB.CA) dived by 9.13 per cent, to close at 1.990 Egyptian pound a share.
- Shares of Egyptian Gulf Marseilia for Real Estate Investment (MAAL.CA) sank by 5.87 per cent, to close at 3.530 Egyptian pound a share.
- Shares of Rowad Tourism Company (Al Rowad) (ROTO.CA) shed 4.06 per cent, to close at the price of 34.760 Egyptian pound a share.
