EGX sees mixed performance in Q4

Egypt’s main index, EGX30, fell by 5.85 per cent in the fourth quarter of 2024, closing at 29,740.58 points on December 31. In contrast, the EGX70, which tracks small and medium enterprises (SMEs), rose by 8.02 per cent to reach 8,143 points, while the EGX100 Equal Weight Index (EWI) gained 4.52 per cent, ending the quarter at 11,217.62 points, as per the Egyptian Exchange quarterly report.

Market Capitalisation and Trading Activity

The Egyptian Exchange (EGX) market capitalisation dropped by 0.68 per cent during the same period, reaching 2,169.8 billion Egyptian pounds.

Total trading activity on the EGX for the quarter amounted to 4,494.4 billion Egyptian pounds, representing 78,169 executed securities over 7,140 transactions. This marked an increase from the previous quarter’s 3,880.5 billion Egyptian pounds in trading value across 67,372 securities over 7,213 transactions.

Trading Composition

Indexes contributed 6.52 per cent of the total trades, while securities treasury bills dominated trading activity, accounting for 93.48 per cent during the quarter.

Investor Breakdown

Egyptian investors dominated trading activity during the period, accounting for 88.3 per cent of total transactions. Non-Arab foreign investors represented 6.2 per cent, with a trading value of 2,961.8 million Egyptian pounds, while Arab investors accounted for 5.5 per cent, totalling 201.5 million Egyptian pounds.

Year-to-Date Overview

Since the start of 2024, Egyptian investors have contributed 86.8 per cent of the trading value in listed stocks, excluding deals. Foreign investors accounted for 6.8 per cent, and Arab investors represented 6.4 per cent. Foreign investors registered a net sale of approximately 1.63 billion Egyptian pounds in stocks, while Arab investors recorded a net sale of 996.23 million Egyptian pounds during the year, excluding deals.

Attribution: Amwal Al Ghad English

Subediting: Y.Yasser