Egyptian Exchange gains EGP 17 bln in market cap

Muhammed Khalid , Thursday 10 Aug 2023

The Egyptian Exchange (EGX) indices made gains over the week that ended on Thursday, 10 August, which saw an EGP 17 billion increase in the market cap, which reached EGP 1,202 billion.

EGX - REUTERS
EGX - REUTERS

 

The benchmark index, EGX30, rose over the week by 1.5 percent to end at 17,710 points. The index got off to a good start, reaching a seven-week high on Monday, before declining on Tuesday and then inching higher on Wednesday.

The EGX70 index increased by 1.5 percent during the week, closing at 3,579.7 points, while the EGX100 index jumped 1.7 percent to close at 5,196.8 points.

"The EGX30 has been supported by active trading in the housing and petrochemical sectors. However, the index may see corrective transactions next week, which would pressure it to reach 17,400 points," financial market analyst Mahmoud Atta told Ahram Online.

"On the other hand, EGX70 will see a positive week and could approach a resistance level at 3,650 points," Atta predicted.

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