The Egyptian Exchange (EGX) concluded the trading week predominantly in positive territory, with the benchmark EGX30 index climbing by 1.05% to settle at 31,677.58 points on Thursday. This performance reflects a bolstered investor sentiment, driven by strong foreign participation.
The market’s total capitalization reached an impressive 2.25 trillion Egyptian pounds by the session’s close. Arab and non-Arab foreign investors emerged as net buyers, with transactions amounting to 5.94 billion and 34.24 billion pounds, respectively. In contrast, Egyptian investors opted to sell, recording net sales of 40.18 billion pounds. These figures highlight a prevailing trend where foreign investors seek opportunities in emerging markets, contributing to the EGX’s upward momentum.
Among the top gainers, Arab Pharmaceuticals saw a remarkable surge of 18.70%, concluding at 177.990 Egyptian pounds per share. United Housing and Development followed suit, with an 11.34% increase to 8.150 Egyptian pounds per share. Ismailia Development and Real Estate Co also witnessed an 8.48% rise, closing at 31.200 Egyptian pounds per share.
Conversely, some stocks faced declines. The Rights Issue of El Nasr Clothes and Textiles Kabo -3 plunged by 17.98%, settling at 3.010 Egyptian pounds per share. Misr Duty Free Shops saw an 8.60% drop to 27.740 Egyptian pounds, and the Rights Issue of Arab Developers Holding -1 fell by 7.14%, closing at 0.078 Egyptian pounds per share.
Financial analyst Dr. Hossam Ibrahim from Cairo University commented on the day’s activities, noting, “The Egyptian stock market’s dynamics underscore the influence of foreign capital flows, which are often driven by global economic trends and currency stability.”
With global economic shifts and local economic reforms underway, the EGX continues to present a landscape of both opportunities and risks. As the world closely watches economic developments in Egypt, investor confidence remains a critical factor shaping market outcomes.
