The Egyptian Exchange (EGX) wrapped up July on a decisively positive note, with all major indices closing higher on Thursday, July 31, powered by strong foreign and Arab investor interest.
The benchmark EGX30 index climbed 1% to 34,198 points, marking one of its strongest sessions in recent weeks. The EGX33, Egypt’s Shariah-compliant index, advanced 1.05% to close at 3,496.17 points, while the SMEs-focused EGX70 rose 1.30% to 10,225.07 points. The broader EGX100 index saw the day’s most notable performance, adding 1.33% to settle at 13,807.5 points.
The market’s total capitalization surged to EGP 2.4 trillion, reflecting increased investor confidence amid stabilizing macroeconomic indicators and improving corporate earnings.
Investor activity showed a clear divergence by nationality: Arab investors were net buyers to the tune of EGP 959.2 million, while non-Arab foreign investors added another EGP 1.69 billion in net purchases. Meanwhile, Egyptian investors were net sellers, offloading shares worth EGP 2.65 billion.
This pattern underscores the return of foreign institutional confidence, according to Mohamed Farid, financial analyst at CI Capital. “The positive performance is being driven largely by capital inflows from GCC sovereign wealth funds and international institutional investors, particularly into banking, fintech, and non-bank financial services,” he told The Financial Daily.
Farid added that Egypt’s recent FX market stabilization, lower inflationary pressures, and strong GDP growth forecasts have improved sentiment across the board.
Among Thursday’s top gainers was Cairo Educational Services, which surged 19.87% to EGP 39.03 per share, buoyed by reports of a potential expansion into digital learning platforms in Upper Egypt. The company has not officially confirmed the plans, but insiders close to the matter say an announcement could come as early as Q4 2025.
Contact Financial Holding also posted a strong session, jumping 15.16% to close at EGP 5.47, likely reflecting optimism around its aggressive entry into SME lending and its new consumer credit partnership with a major Gulf retailer.
Rounding out the top three was Gharbia Islamic Housing Development, which rose 12.81% to EGP 34.00, possibly fueled by investor interest in Shariah-compliant real estate plays amid a broader property sector recovery.
On the downside, Misr Oils & Soap saw a steep 8.93% decline, ending the day at EGP 160.76. Market observers cite concerns over supply chain volatility and rising input costs in the food manufacturing sector.
Other notable laggards included Egyptian Modern Education Systems, which fell 3.43% to EGP 0.45, and Naeem Real Estate Holding Group, down 3.30% at EGP 8.51, as investors rotated out of speculative mid-cap plays.
Analysts expect volatility to remain moderate into August, with investors closely watching the Central Bank of Egypt’s interest rate decision and a slew of Q2 corporate earnings releases.
“Foreign participation is set to increase, especially if earnings from blue chips like Commercial International Bank (CIB) and Elsewedy Electric beat forecasts,” said Amira El Masry, equity strategist at Beltone Financial. “However, local retail investors may remain cautious due to seasonal liquidity fluctuations and global geopolitical uncertainty.”
Thursday’s rally reflects renewed optimism in Egypt’s equity markets, underpinned by strong foreign demand, favorable macro signals, and sector-specific catalysts. As Egypt continues to position itself as a frontier-market success story, investor attention is expected to intensify across key sectors including fintech, real estate, and education.
