Cairo — Egypt’s stock market staged a sharp recovery in the week to 9 April, before sentiment turned cautious again as ceasefire prospects weakened ahead of the new trading week.
The EGX30 surged 4.1% on 8 April to 48,593.99 points, helping the index post weekly gains of nearly 6%. The rally was broad-based, with the EGX33 Shariah index up 4%, the EGX70 rising 1.32%, and the EGX100 gaining 1.61%, while market capitalisation climbed to around EGP 3.4tn. The move was underpinned by strong foreign net buying (EGP 11.7bn) alongside Arab inflows, offsetting Egyptian selling.
However, momentum appeared fragile. After the Sunday–Monday break, early trading signals on Tuesday, 14 April, point to renewed pressure as negotiations around the US-Iran ceasefire stalled, with energy prices firming again and regional markets turning mixed.
The shift underscores a market still driven by geopolitical headlines, where short-term foreign flows and oil dynamics continue to dictate direction rather than domestic fundamentals.
