The Egyptian Exchange (EGX) started the activation of live feed for Nile Index on its website, Which came as the Egyptian bourse is keen to keep the investors updated by market performance through all possible tools.
The new index uses the methodology of the market cap adjusted by free float, which is the same methodology used for the main index EGX 30, but the nature of NILEX imposed a number of changes on this methodology. the most active companies are selected in terms of value during the audit period, excluding companies that have free float less than 10%, as well as the ones that experience recurrence violations of disclosure rules (more than 3 violations), and the companies that conclude losses for a period of three consecutive years.
Based on the methodology, there is no certain number of companies required to constitute Nilex Index which differs from the EGX30 stock index. It also does not require the company to achieve more than 50% of the trading days.
The Nile Index is consisted of 15 companies which are: Al Bader Plastic, Pharaoh tech for control and communication systems, Port Said for Agricultural Development and Construction, International Business Corporation For Trading and Agencies, Marseille Almasreia Alkhalegeya For Holding Investment, The Egyptian Modern Education Systems, Misr Kuwait Investment & Trading Co, MISR INTERCONTINENTAL FOR GRANITE & MARBLE (EGY-STON(, Barbary Investment Group (BIG), UTOPIA, Univert Food Industries, International company For Medical Industries – ICMI, AlFanar Contracting Construction Trade Import And Export Co, Brothers Solidarity For Real Estate Investment & Food Security and First Investment Company And Real Estate Development.
The new index began to be counted beginning of July 2, 2012, after a six-month period of changing the trading mechanism from the auction mechanism to the normal trading mechanism at the level of 1000 points. It has achieved an increase of 15.7% by the end of 2013 to close at 1156.8 points compared to an estimated growth of 37% on the EGX 30 Index during the same period.