Egypt Stocks Hit 4-week Higher, Gain EGP6.7 billion in Week
In Week, Egypt’s stocks hit one month higher, registering gains totalling 6.7 billion. In addition, the country’s main stock index, EGX30 pushed up by 2.1% throughout trading sessions of last week, registering an increase of 180.84 points, ending Thursday’s transactions at 8637.84 points compared to 8457 points at the end of a week earlier.
The main gauge index registered its highest point on Thursday closing at 8637.84 points, whereas its lowest point recorded on Sunday at 8401.16 points.
Meanwhile, the mid- and small-cap index, the EGX70 surged by 1.5% closing at 615.16 points during Thursday’s session, compared to 606 points at the end of a week earlier. The price index, EGX100 also climbed by 1.8% concluding by 1089.57 points during Thursday’s session, against 1070 points at the end of a week earlier.
Furthermore, the market capitalization closed at EGP 494.224 billion last Thursday, compared to EGP 487.530 billion at the end of a week earlier.
Turnovers & Traded Volumes:
Through the week, the trading volume hit around 591.1 million securities, compared to 813.4 million securities at the end of a week earlier. For the traded value, it reached around EGP 4 billion against EGP 5.6 billion a week earlier.
Sectors Activity:
Financial Services excluding Banks sector was the most active sector through last week, recording a volume of trades of 207.2 million securities worth EGP 582.5 million.
Telecommunications sector came second, attaining a volume of trades of 167.4 million securities worth EGP 269.8 million.
Real Estate reported third, with a volume of trades of 76.4 million securities worth EGP 675.7 million.
Travel & Leisure sector was in the fourth position, getting a volume of trades of 40.3 million securities worth EGP 97.1 million.
Industrial Goods and Services and Automobiles came fifth, recording a volume of trades of 27.7 million securities worth EGP 143.6 million.
Personal and Household Products sector reported sixth, having a volume of trades of 18.4 million securities worth EGP 102 million.
Banks sector was on the seventh position, with a volume of trades of 16.6 million securities worth EGP 315.8 million.
Construction and Materials reported eighth, attaining a volume of trades of 15.2 million securities worth EGP 100.5 billion.
Food and Beverage took the ninth position, with a volume of trades of 10.1 million securities worth EGP 71.1 million.
Basic Resources reported tenth, recording a volume of trades 3.3 million securities worth EGP 43.9 million.
Healthcare and Pharmaceuticals sector ranked eleventh, attaining a volume of trades of 1.9 million securities worth EGP 6.1 million.
At the bottom of the list, Chemicals reported twelfth getting a volume of trades of 1.7 million securities worth EGP 23.9 million.
Investors’ Activity:
Local investors led the market activity all through the week with 85.47%, followed by foreign and Arab investors with 10.52% and 4.02%, respectively, after excluding the deals.
Foreign investors were the most active buyers during the week earning the value of EGP 176.90 million, after excluding the deals.
Arab investors were also to buy by value of EGP 32.79 million, after excluding the deals.
Moreover, institutions seized 59.04% of total trading through the week; while individuals attained 40.96%. Institutions were the most active buyers during the week earning the value of EGP 264.81 million, after excluding the deals.
Market Remarks
– Prime Holding Mulls Running 2 IPOs on Egypt Bourse
Last week, Egypt-based Prime Holding for Financial Investments announced it may manage two new initial public offerings (IPOs) within upcoming period.
In this respect, Prime’s Vice Chairman Mohamed Maher elaborated that the two IPOs will be in favour of companies working in real estate and cement sectors.
Prime is currently conducting studies to define the optimal timing to launch the IPOs, he added.
In addition to the relative stability in Egypt, Maher has referred to the vivid amendments to the Egyptian Exchange’s listing rules, which would in return boost the investors’ appetite to list their companies’ stocks in the market.
