Cairo — Egypt’s stock market opened the week with strong gains on Sunday, 10 May 2026, as improving currency conditions, resilient liquidity and broad market buying pushed the benchmark index to its highest closing level in recent years.
The benchmark EGX30 rose 1.91% to 54,628 points, extending its 2026 gains to approximately 30.6% since the start of the year, according to market data cited by local financial media. The broader rally continued across the market, with the EGX70 index advancing 1.4% and the EGX100 climbing 1.72%, supported by gains across most sectors and strong trading activity.
Turnover reached approximately EGP 12.3bn, reflecting continued momentum in domestic equities despite persistent regional volatility linked to developments in the Gulf.
The rally coincided with a further strengthening of the Egyptian pound. According to Central Bank of Egypt (CBE) data, the dollar declined by around 12 piastres during Sunday’s session, with the exchange rate reaching approximately EGP 52.50 for buying and EGP 52.64 for selling. The move followed last week’s broader appreciation in the pound, supported by continued currency stability and moderating inflation expectations.
The session came against a volatile regional backdrop. Recent reporting by Reuters said global markets turned cautious on Monday as negotiations between the United States and Iran appeared increasingly deadlocked, while renewed concerns over the Strait of Hormuz pushed Brent crude back above $105 per barrel.
Despite those pressures, the EGX advanced even as several Gulf markets traded mixed amid uncertainty surrounding renewed drone activity and stalled diplomatic efforts, according to Reuters.
Investors also continued to respond positively to improving domestic macroeconomic indicators. Earlier this month, the CBE reported that Egypt’s net foreign reserves rose to $53.01bn at the end of April, while annual core inflation slowed to 13.8%, reinforcing expectations that inflationary pressures may gradually moderate.
Additional support came from policy signals surrounding Egypt’s capital markets. Enterprise Am reported over the weekend that a new tax package under parliamentary review could abolish the long-debated EGX capital gains tax, a move viewed by market participants as potentially supportive for liquidity and investor participation.
Sunday’s rally highlighted the EGX’s continued resilience despite heightened geopolitical uncertainty. Strong domestic liquidity, a firmer pound and easing inflation expectations continue to support Egyptian equities, while the rally suggests continued market focus on improving local macroeconomic conditions and expectations of deeper capital-market reforms.
