EGX 30 index kicks off the fourth quarter up 1% with gains of EGP 56 billion

The EGX 30 index rose by 1% to reach 52,413 points during the first half-hour of the October 1 session, the first session of the fourth quarter, according to a report by Youm7. Market capitalization gained EGP 56 billion to reach EGP 4.1112 trillion.

Trading value exceeded EGP 1.1 billion during the first half-hour, indicating an active start for the market in the first session of the final quarter. This value is compared with its usual levels to determine whether liquidity supports the continuation of the rally or not.

The equal-weighted EGX 70 and EGX 100 indices both recorded gains exceeding 1% each, meaning that the rally was not limited to major blue-chip stocks but also included small and medium-cap stocks. Gains extended by mid-session to 1.34%, bringing the index to 52,588 points.

The performance of the Egyptian Exchange derives its importance from being an indicator of the direction of local and foreign investors' funds, especially given the market's connection to exchange rate and domestic interest rate trajectories. Traders are waiting to see whether these gains will continue in upcoming sessions, as the first session of the month and quarter provides an indicator of the prevailing trend.

What do these terms mean?

Market Capitalization: The total value of listed companies' shares on the stock exchange, calculated by multiplying the share price by the number of shares. EGX 30 Index: An index measuring the performance of the top 30 listed companies in terms of liquidity and market capitalization. Equal-Weighted Index: An index in which each company is given equal weight regardless of its size. Trading Value: The total value of shares traded over a period.