Egyptian EGX Falls as Profit‑Taking and Stamp Duty Pressure Market, Record Capital Value Reached

Egypt’s stock market ended the week lower as domestic investors took profits and the pound weakened, while the reinstated stamp duty on listed securities added pressure. The benchmark EGX30 slipped 0.35% to 54,094 points, and the broader EGX100 fell 0.91%, bringing total market capitalisation to about 4.02 trillion Egyptian pounds, close to the historic 4 trillion‑pound level reached earlier in the week.

Despite the decline, foreign institutions were net buyers, with Arab and non‑Arab investors purchasing roughly 17 billion pounds combined, while Egyptian investors sold about 16.7 billion pounds. The low‑volatility EGX35‑LV index rose 1%, and the SME‑focused EGX70 gained 1.36%.

Top gainers included GlaxoSmithKline, El‑Nile Pharmaceuticals and EIPICO, each up 20%. Leading losers were Alexandria Flour Mills and Tycoon Holding.

In July, the National Bank of Egypt was the largest market participant, accounting for 16.4% of trading value, followed by Citi Bank Egypt (11.5%) and Abu Dhabi First Bank Egypt (9%). These banks helped drive a market‑cap increase of 22 billion pounds to 3.887 trillion at week’s end.