Egyptian Exchange Rises with Broad Gains Offset by Foreign Net Selling of EGP 225.7 Million

The Egyptian Exchange indices ended the October 1st session with collective gains, as the EGX 30 index jumped by 2.24% to 53055.03 points, the EGX 70 index rose by 3.96% to 19363.53 points, and the EGX 100 index added about 3.55% to settle at 25655.63 points, in a broad gain that encompassed most stocks rather than just blue-chip companies.

The Shariah index rose by 3.13% to 6447.37 points, while the total market capitalization of the exchange reached around EGP 4.185 trillion, a measure of market size and capitalization value. The rise came after a nine-session decline streak that had weighed on major corporate stocks before the final session turned into gains.

Trading value in the session reached EGP 9.357 billion across 1.973 billion shares and 256,826 transactions, while another report indicated that weekly trading value approached EGP 116.8 billion. This level of trading demonstrates a return of activity to the market following a period of caution during the declining sessions.

Regarding trading composition, individual investors accounted for 77.21% of transactions, while foreign investors were net sellers of around EGP 225.679 million. This indicates that the rally was primarily driven by local trading rather than foreign inflows, making sustained gains contingent on local trading's ability to maintain support in upcoming sessions.

What do these terms mean?

EGX 30 Index: The main index of the Egyptian Exchange, comprising the 30 largest companies in terms of liquidity and market capitalization. Shariah Index: An index comprising stocks compliant with Islamic Shariah provisions. Market Capitalization: The total value of listed companies' shares on the exchange. Net Selling: The difference between the value of investors' sales and purchases during a session.