Egyptian Exchange indices rise as market capitalization hits 4.3 trillion pounds

The Egyptian Exchange has shown recent positive momentum, with market indices experiencing growth and a significant increase in market capitalization. On Monday, August 31, the market saw a collective rise, with market capitalization reaching approximately 4.308 trillion Egyptian pounds, up from 4.292 trillion pounds the previous day.

Key indices recorded gains, including the EGX30, which rose by 0.27%, and the EGX70 EWI, which jumped by 1.74%. Investor activity was driven largely by Egyptian buyers, who recorded net purchases of approximately 69.164 million pounds, while Arab and foreign investors trended toward selling.

Market analysts note that the EGX30 is currently in a phase of sideways movement as it attempts to retest previous historical peaks, specifically targeting the 55,500 to 56,100 point range. Leading sectors driving this activity include banking, telecommunications, and basic resources, with notable performers such as Commercial International Bank, Telecom Egypt, and Egypt Aluminium.