Egypt's bourse discontinues EGX50 index

Ahram Online , Wednesday 26 Jul 2023

The Egyptian Exchange (EGX) announced discontinuing the EGX50 equally-weighted index as of 1 August 2023, according to a statement on Wednesday.

EGX trading hall. Ahram Gate.
EGX trading hall. Ahram Gate.


The EGX based its decision on a survey of 17 companies, research centres, asset managers, and investment funds, where 94 percent reported not using the index.

The EGX50, which was launched in 2015, includes 50 stocks in a wide variety of sectors.

The Egyptian Exchange suffered negative performance for the second day in a row on Tuesday with the market cap losing EGP 5 billion.

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