As the Egyptian Exchange (EGX) resumed trading after the Eid el-Fitr holidays, the market revealed a tapestry of mixed performances. The main index, EGX30, saw a downturn of 1.02%, closing at 31,699.58 points. This drop was mirrored by the EGX33, a Shariah-compliant index, which also dipped by 0.16%, landing at 3,323.06 points. However, it wasn’t all bleak on the trading floor—indices representing smaller enterprises, such as the EGX70, climbed by 0.47% to reach 9,088.74 points, while the broader EGX100 index posted a 0.42% increase to 12,514.81 points.
The market’s total capitalization was recorded at a robust 2.24 trillion Egyptian pounds, showcasing resilience despite the mixed individual index performance.
In terms of investor activity, the day saw Egyptian and Arab investors emerge as net buyers, injecting 183 million and 798 million Egyptian pounds into the market, respectively. However, this was counterbalanced by non-Arab foreign investors, who were net sellers with a total outflow of 981 million pounds, reflecting a broader regional trend of cautious international capital movement amid global economic uncertainties.
Top Performers and Decliners:
Arab Developers Holding -1 led the gainers with its shares climbing an impressive 13.33%, closing at 0.085 Egyptian pounds. Delta for Printing and Packaging also performed well, with a surge of 11.97% to close at 81.360 Egyptian pounds. Amer Group Holding saw a rise of 11.29%, ending the day at 1.380 Egyptian pounds.
Conversely, top losers included El Nasr Clothes and Textiles (Kabo), which fell by 5.54% to 4.600 Egyptian pounds. Samad Misr -EGYFERT also saw a decline of 4.84%, closing at 97.420 Egyptian pounds, while Golden Coast Company dropped 4.70% to 2.230 Egyptian pounds.
Dr. Amr Adly, an economist and lecturer at the American University in Cairo, commented on the performance: “The mixed results post-Eid reflect a period of adjustment as the market digests recent economic data and geopolitical developments. While the SME sector’s growth is promising, concerns linger regarding foreign investment outflows.”
According to a Bloomberg report, regional markets have been similarly volatile due to fluctuating oil prices and ongoing global economic shifts, which continue to influence investor sentiment.
As Egypt’s stock market charts its course through these ever-evolving economic landscapes, stakeholders remain watchful, balancing optimism with prudent caution.
