Stock image depicting stock market indices.
Over the week, EGX30 surged 7.39 percent to close at 24,312.92 points, a new historic high.
Meanwhile, the small and medium companies index, EGX70, rose by 5.58 percent, ending at 4,658.98 points.
The EGX100 grew by 4.98 percent in a week, settling at 6,908.99 points.
"Last week saw a decline in the performance of EGX30, dropping to 22,201.500 points. This decline was primarily attributed to concerns about a natural gas shortage that was expected to impact the fertilizers and petrochemical sector, causing unease among investors regarding the profitability of listed companies,” financial market analyst Hanin El-Mahdy told Ahram Online.
“Fortunately, these negative expectations did not persist. Over the weekend, reassuring news emerged indicating a return to normal natural gas supplies for fertilizers and petrochemical companies, swiftly leading to a recovery in their listed stocks,” El-Mahdy added.
“On a different note, CIB reported significant profits, leading the banking sector to stand out in the market,” the analyst said.
On 5-9 November, trading value surged from EGP 42.3 billion to EGP 214.9 billion compared to last week.
6.8 billion securities were traded this week, up from 5.26 billion a week earlier.
Over the week, market capitalization jumped 6.32 percent to EGP 1.63 trillion.
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