Latest in Stock Market Highlight

Latest in Stock Market


EGX30 expected to continue moving sideways to 7,800-8,020 points: analysts

Technical analysts predicted that the Egyptian Exchange (EGX) would move sideways, leaning towards a decline, amid decreasing trading volumes this week. Moreover, they said the index should range between 7,800 and 8,020 points. They recommended that dealers and investors take advantage of this predicted decline over the first few sessions of the week to buy …

Daily News Egypt

Devaluation of Egyptian pound increases EGX’s hopes for restoring ‘hot money’

Investment, initial public offering (IPO), and securities promotion managers have conflicting opinions over whether the devaluation of the Egyptian pound has restored the Egyptian Exchange’s (EGX) attractiveness for foreign investors, and whether the action encourages them to inject “hot money” into the stock exchange—like what had happened before 2011 and what happened mid-2013. The experts …

Mohamed Ahmed

Stock market surpassed itself in supporting growth despite economic slowdown: EGX chairperson

Mohammed Omran, chairperson of the Egyptian Exchange (EGX), said that the stock market played a vital role in supporting the country’s economic development despite Egypt’s slow economic growth. The stock market has provided funds in the form of initial and secondary offerings and increased capital through issuing bonus shares totaling EGP 37.72bn since mid-2013 until …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX30 targets 7,900-8,000 points this week

Technical analysts predicted that Egyptian Exchange (EGX) will move sideways, dropping down during this week’s trading. EGX30 is expected to move between 7,900-8,000 points. Analysts pointed out that the EGX market witnessed a limited growth of 0.06% last week, rising from 8,131 points to 8,136 points. While the total trading value declined from EGP 3bn to EGP …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX falls to 8,050 – 7,993 points giving buyers the opportunity for future profit

Technical analysts and executives at brokerage firms expect the Egyptian Exchange (EGX) to continue its profit-making wave during this week’s transactions. EGX30 is expected to move between 8,050 and 7,993 points. Experts advise investors to purchase a number of shares if they continue to fall. Ehab El-Saeed, head of technical analysis at Osool Securities Brokerage …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX30 targets 8,150 – 8,400 points this week

Technical analysts predicted that the Egyptian Stock Exchange (EGX) will move sideways between 8,150–8,400 points, perhaps dropping down to the 8,100-8,050 points during this week’s trading, awaiting any new economic incentives that will encourage investors to rebuild purchasing centres again. Analysts pointed out that the EGX market witnessed a limited decline of 0.72% last week, …

Mohamed Ahmed

MSCI index breaks 910 points for first time in 13 months

MSCI index continued to rise through the past week’s trading sessions. The index rose during the last five sessions from 885.52 points to 910.08—an increase of 2.77%. This increase to 910.08 points is the highest level registered by the MSCI index since 15 July 2015. The MSCI index started the past week’s trading session approaching …

Daily News Egypt

Sideways trend dominates Gulf markets in past week’s trading

The Arab Gulf stock markets experienced a sideways trend over the past week affected by the high price of Brent Crude, which rose from $42.14 up to $46.97 per barrel since the beginning of August. Qatar led the region-wide rise to finish 2.57% higher during the past week’s trading. It increased from 10,681.08 points to …

Mohamed Ahmed

EGX30 plummeted more than nine per cent on Sunday, 25 November. (DNE/ Mohamed Omar)

EGX expected to range from 8,400 to 8,500 points this week

Technical analysts predict that the Egyptian Exchange (EGX) will continue its rising trend, to reach 8,450 and 8,500 points during this week’s trading. Should the EGX face resistance, it could result in a decline to 8,100 points. The expectations tailed an increase in EGX30, as it had reached 8,255 points. The market has been climbing …

Mohamed Ahmed

MSCI

MSCI continues moving sideways near 873.5 points over the last week

The MSCI index continued moving sideways for the second week in a row. It rose from 869.8 points to 873.5 points─an increase of 0.42%. The MSCI index closed early last week at 870 points, amid low trade volume. On the following day, the index broke 873 points. It kept moving upwards during Wednesday’s session, approaching …

Daily News Egypt

Kuwait tops Gulf stock markets amid varying performance

Performance of Gulf stock markets varied over the past week. The Kuwait Stock Exchange (KSE) rose by 1.29%, recording an average daily trade volume of KD 7.236m. The Qatar Stock Exchange (QSE) followed in second, having closed at 10,652.3 points and an average trade volume of QR 181.6m per day. The Muscat Securities Market (MSM) …

Daily News Egypt