In a robust finish to the trading week, Egypt’s stock market (EGX) closed in the green on Thursday. The benchmark index, EGX30, registered a significant increase of 1.96%, closing at 30,937.69 points.
The Shariah-compliant index, EGX33, saw an impressive rise of 2.63%, ending at 2,955.5 points. Meanwhile, the EGX70 index, which tracks small to mid-size enterprises, climbed by 0.43% to 7,100.28 points. The broader EGX100 index also performed well, rising by 0.82% to close at 10,169.55 points.
The total market capitalization of EGX reached a substantial 2,092,683,908,467 Egyptian pounds, highlighting the market’s overall strength.
In terms of trading activity, both Arab and non-Arab foreign investors were net buyers, with net purchases amounting to 656,540,774 Egyptian pounds and 1,677,494,463 Egyptian pounds, respectively. Conversely, Egyptian investors were net sellers, with a total of 2,334,035,237 Egyptian pounds.
Top Gainers on Thursday:
1. Alexandria New Medical Center (AMES.CA) surged by 19.98%, ending the day at 10.030 Egyptian pounds per share.
2. Palm Hills Development Company (PHDC.CA) climbed by 7.24%, trading at 6.370 Egyptian pounds per share.
3. Acrow Misr (ACRO.CA) jumped by 6.37%, reaching a price of 73.150 Egyptian pounds per share.
Top Losers on Thursday:
1. Osool ESB Securities Brokerage (EBSC.CA) fell by 7.88%, closing at 0.421 Egyptian pounds per share.
2. El Kahera El Watania Investment (KWIN.CA) declined by 7.61%, ending at 32.660 Egyptian pounds per share.
3. Minapharm Pharmaceuticals (MIPH.CA) dropped by 6.22%, finishing at 159.950 Egyptian pounds per share.
The week’s performance underscores the resilience of the Egyptian stock market, with multiple indices showing solid gains and a strong interest from foreign investors. As the market continues to navigate economic and global challenges, these positive trends indicate a bullish sentiment among investors.
