The main index, EGX30, which is a benchmark for the largest companies by market capitalization, rose by 0.52%, ending the session at 33,324.38 points. Meanwhile, the EGX33, a Shariah-compliant index, gained 0.24% to reach 3,492.05 points, indicating increased interest in ethical investment options.
Small and medium-sized enterprises (SMEs) also saw promising growth, with the EGX70 index climbing 0.40% to 10,131.02 points. The broader EGX100, encompassing a wide array of market segments, added 0.36%, closing at 13,703.38 points.
Market capitalization soared to 2.37 trillion Egyptian pounds, underscoring the robust performance of Egyptian equities this week. According to the EGX’s official data, Arab and non-Arab foreign investors were net buyers, acquiring shares worth 340.32 million and 5.08 billion Egyptian pounds, respectively. Conversely, Egyptian investors were net sellers, offloading 5.42 billion pounds’ worth of shares.
The gains were led by substantial increases in select stocks. The General Company for Land Reclamation Development and Reconstruction surged 15.19% to 83.06 pounds per share. Similarly, Wadi Kom Ombo Land Reclamation rose 10.94% to close at 154.26 pounds, and Digitize for Investment and Technology saw a 10.12% increase, closing at 5.55 pounds per share.
However, not all stocks basked in the glow of market success. The Certificates of Odin Egyptian Equity Investment Fund-KASAB fell sharply by 7.71% to 5.03 pounds. Alexandria Pharmaceuticals and Egyptians Real Estate Fund Certificates also experienced declines, dropping by 5.53% and 5.51%, respectively.
Dr. Amr Safwat, a financial analyst and professor at Cairo University, commented on the trading session, noting, “The market’s performance is a reflection of improved economic indicators and strategic investor optimism amidst global uncertainties. The positive movement in indices, particularly the Shariah and SME indices, suggests a diversification of interest across different investment vehicles.”
Looking ahead, market insiders suggest potential deal announcements by the year’s end, particularly in key government sectors, which continue to draw international attention and investment. This speculation offers a glimpse into an exciting future for the EGX, as it maintains its momentum in 2025.
