Egypt stocks rise sharply in November

Egypt’s stock market reported strong gains in November, with the EGX 30 index rising 6.5 per cent to close at 40,753.45 points. According to the EGX monthly report released on Sunday, the EGX 70 EWI advanced 1.7 per cent to 12,291.29 points, while the EGX 100 EWI gained 3.08 per cent to end the period at 16,399.17 points.

The EGX Shariah 33 index jumped 9.99 per cent to 4,317.66 points, and the EGX Capped 30 rose 7.43 per cent to 50,494.91 points. Total market capitalisation reached 2,881.3 billion Egyptian pounds, up 4.04 per cent for the period.

Trading value during the month amounted to 1,547.2 billion Egyptian pounds, with 46,950 million executed securities across 3,057 thousand transactions, compared with 1,652.6 billion Egyptian pounds and 40,055 million executed securities in 2,800 thousand transactions in October. Stocks accounted for 10.36 per cent of trading value, while bonds and treasury bills represented 89.64 per cent.

Egyptian investors dominated transaction in listed shares, representing 89.0 per cent of trades, while foreign and Arab investors accounted for 5.7 per cent and 5.2 per cent, respectively, after excluding block trades. Foreign investors posted net sales of 1,141.5 million Egyptian pounds, and Arab investors 652.0 million Egyptian pounds.

Since the start of the year, Egyptians have represented 89.1 per cent of trading value in listed shares, with foreign and Arab investors at 5.6 per cent and 5.3 per cent, respectively. Over the same period, foreign investors recorded net sales of 8,577.0 million Egyptian pounds, and Arab investors 6,400.7 million Egyptian pounds, excluding block trades.

Attribution: Amwal Al Ghad English