Market watch: Egypt’s bourse main index closes over 21,000 points for first time ever

Ahram Online , Muhammed Khalid , Monday 16 Oct 2023

The Egyptian Exchange (EGX) achieved unprecedented levels on Monday, as the benchmark index EGX30 broke a new record to end above 21,000 point for the first time ever.

Egyptian Exchange trading hall. Al-Ahram.
Egyptian Exchange trading hall. Al-Ahram.

 

The benchmark EGX30 index jumped 3.48 percent to settle at 21,032.35 points. The EGX70 index rose by 1.5 percent to end at 3,807.99 points.

The EGX100 joined the positive trend, surging 2.37 percent to close at 5,778.65 points.

The market capitalization gained nearly EGP 61 billion, recording more than EGP 1,445 billion.

“The surge in the EGX30 can be ascribed to the active trading on the petrochemical sector, resulting in jumps in Abu Qir and Mopco fertilizers companies,” financial market analyst Mahmoud Atta told Ahram Online.

On Sunday, Abu Qir Fertilizers surged 18.63 percent to close at EGP 87.59, while Mopco was the biggest winner in the market for the second day in a row, surging 20 percent to close at EGP 528.14 per share.

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