Latest in Stock Market Highlight
Latest in Stock Market
EGX continues trading above support level, increasing chance of resuming upward move
The benchmark index in the Egyptian Exchange (EGX30) has closed at 11,056.27 points, recording a decline of 2.17% for the week. The index was still above its support level of 10,900 points, and it managed to form a higher low pattern. Meanwhile, the bullish scenario suggests that EGX30 will rise to the resistance level of …
ECMA proposes starting EGX trading sessions earlier to find room for shares’ closing price calculation
The Egyptian Capital Market Association (ECMA) has welcomed the introduction of a new method to calculate the closing price of stocks at the Egyptian Exchange, noting that the new system is applicable in more than 90% of the world’s stock exchanges. However, ECMA suggested starting the trading session at 9:00 to find room for applying …
238 companies are currently listed on EGX, with total market cap of EGP 731bn: Chairperson
EGX currently has treasury, housing, companies, and securitization bonds worth EGP 2trn
Expected profits in Egyptian Exchange this week after strong rise of some leading stocks
Market going through temporary state for 2 months, we approach its upper limit: Beltone’s Agina
CIBC leads brokerage ranking in August 2021 with 18.7% market share
Hermes Securities Brokerage came in second place with market share of 7.3%
Egyptian Exchange likely to reach 11,450 points in case of breaking 11,145 resistance mark
EGX30 closes at 11,125.55 points, recording increase of 2.93% last week
Mubasher Capital targets EGX listing within 3 years: Vice Chairperson
Company intends to invest EGP 350m in new products, expansions through five-year plan
EGX extends deadline for listed SMEs to contract registered sponsor until 31 August
Sponsor will assist SME market listed companies to develop their investor relations
Egypt’s Financial Regulator approves 1st microfinance leasing licence
Total of 3.3 million benefit from microfinance services, with financing portfolio of EGP 21.7bn in May 2021
EGX targets new resistance level of 11.200 points this week
Market capitalisation reaches EGP 715.7bn last week
Prime Minister extends tenure of Egyptian Exchange Chairperson for 4 years
Farid assumed his position in August 2017
EGX30 index records 0.9% weekly gains, making 10,860-10,935 points as key resistance area
Successful breach above would trigger recovery signal on medium term
Newly elected board of Egyptian Exchange announced
The Egyptian Exchange (EGX) announced, on Thursday, its new board of directors, consisting of 5 members who won in the internal election that took place on Wednesday. The new board (2021-2025) included Hashem El-Sayed, Ahmed Abu El-Saad, Rania Yaqoub, Shawkat El-Maraghi, and Dalia El-Sawah. According to the EGX statement, the total turnout in the election …
EGX likely to continue sideways movement between 10,100 – 10,350 points
This will also look at the consistency of trading above the major support level 10,000 points then the chance of resuming the rebounding attempts remains intact.
EGX sees decline in purchasing power, weakening chances to shatter 10,310 point resistance
The Egyptian Exchange (EGX) suffers from a clear decline in purchasing power, which weakens the chances of rising above the resistance level 10,310 points again, and confirming its breach upwards. The benchmark index EGX30 is expected to continue rising during the coming week’s early sessions, to re-penetrate the resistance level of 10,310 points again. This …
Marota Developments begins construction on Mastro project at New Capital
Company eyes EGP 1bn in sales, with project to be delivered 6 months ahead of schedule, says COO Ashraf Diaa
Egyptian Exchange targets 10,450 point level amid optimism for continued surge
EGX30 closed at 10,278.86 points last week, recording increase of 4.19%
Egypt’s capital market is key funding source for economic growth, SMEs stimulation: Madbouly
Prime Minister witnesses launch of ‘Tamayuz’ index to measure SMEs market performance
Egyptian government’s IPO programme expected for revival in Q4 2021
Only one offering expected, which may be Banque du Caire or e-finance
Egypt’s Financial Regulator expects 3 sukuk offerings in Q4 2021: Sources
Egypt saw three sukuk issuances in 2020, with total value of EGP 5.1bn
Orange Egypt Signs A Cooperation Agreement with SODIC
The agreement entails the provision of Orange Triple Play services; “high-speed Internet, IPTV and landline services”
EGX30 to test its strength by breaching 10,000 points level this week
EGX30 closed at 9,977.9 points last week, recording 0.76% decline
EGX to launch Tamayoz index methodology for SMEs market in days
Decision taken to oblige exporting companies to contract with registered sponsors for structuring process, develop investor relation capabilities
EGX further declines to close at 10,054 points, blue-chips see heavy sell-off
If market decline continues, EGX30 will be vulnerable for strong selling pressure where next support level will stand at 9,800 points
EGX to test potential rebound opportunity this week
Benchmark index EGX30 closed at 10,242.3 points, recording decline of 4.56%
EGX needs consistent buying power to sustain further advances
Bulls not able to maintain advances to 10.750 points resistance level, movement to consolidate expected to continue during current week
Profit-taking operations push EGX down at closing session
Investment funds and foreign and Egyptian institutions were net sellers, while Egyptians and Arab institutions followed selective buying.
Integrated Diagnostics obtains EGX approval for dual listing
EFG Hermes, Renaissance Capital act as advisors to Integrated Diagnostics in double entry process
Al-Abd Group aims to debut on NILEX in H1 2021
Company’s capital currently stands at about EGP 90m
Recent market rebound leads EGX towards 10,700 points resistance level
Since beginning of year, Egyptians have represented 83.0% of value traded in listed stocks after excluding deals