The Egyptian stock exchange (EGX) wrapped up the week with overall gains on December 5, 2024, as key indices showed modest upward movement. The main index, EGX30, edged up by 0.02%, reaching 30,839.57 points, indicating steady investor confidence.
Among the indices, the EGX33, which aligns with Shariah-compliant stocks, rose by 0.40% to 3,192.21 points. Meanwhile, the EGX70, focusing on small and medium-sized enterprises, saw a more significant increase of 0.73%, closing at 8,559.56 points. The broader EGX100 index also gained ground, adding 0.66% to end at 11,746.58 points.
The total market capitalization climbed to approximately 2.27 trillion Egyptian pounds, reflecting a constructive trading environment. Foreign investors, particularly non-Arab, emerged as net buyers, contributing 121.85 million Egyptian pounds, while Egyptian and Arab investors opted to sell, with net selling amounts of 86.69 million and 35.17 million Egyptian pounds, respectively.
Top Gainers and Decliners
The session saw notable performances from several companies. Nozha International Hospital (NINH.CA) led the gains with an impressive 12.86% rise, closing at 9.74 Egyptian pounds per share. Minapharm Pharmaceuticals (MIPH.CA) followed, appreciating by 10.83% to trade at 208.69 Egyptian pounds. Atlas for Investment and Food Industries (AIFI.CA) also posted significant gains, jumping 8.83% to 1.011 Egyptian pounds per share.
Conversely, some stocks faced declines. Upper Egypt Flour Mills (UEFM.CA) experienced the steepest drop, falling 7.95% to 287.06 Egyptian pounds per share. Alexandria National Company for Financial Investment (ANFI.CA) and General Silos & Storage (GSSC.CA) also saw downturns of 7.69% and 3.52%, closing at 22.57 and 180.55 Egyptian pounds, respectively.
This week’s performance underscores the dynamic nature of the EGX, with various sectors experiencing shifts in investor sentiment. Analysts suggest that while certain stocks have faced pressure, the overall positive close reflects a balanced market environment as investors navigate both domestic and international economic landscapes.
