Latest in Highlight
Market is currently witnessing fluctuation, particularly off back of anticipated results of yet-to-be-confirmed US presidential elections
Executive committee to be formed to activate cooperation, says EGX Chairperson Mohamed Farid
CIB price falls by 10%, but purchases by local portfolios and funds offset stock’s value loss to 6.9%
Slight selling pressure is projected at beginning of Sunday session
The FRA had requested suspension of CIB shares trading before the start of the Thursday session.
Expectations for sideways trend to continue between 11,200 and 11,500 points, with good opportunities to trade
A clear breach above the latter area on a weekly basis would pave the way for a strong upward move, where the next resistance level will be at 11,800 points.
EGX to target 11,600 points level by end of October, says Aman Securities’ Al-Aasar
Fawry sees shares jump 300% within 12 months, encourages electronic payment companies to get listed
Accordingly, they expect Sunday’s trading session to witness the results of the CBE decision, which will affect the attractiveness of other investment tools for fixed-income instruments.
Analysts forecast EGX to break the 11,200 points barrier this week
Last week, market capitalisation reached EGP 616.8bn, down by 1.7%
EGX30 targets support level of 10,800 – 10,970 points this week
New system facilitates institution ability to deal with shares in Egypt’s SMEs
The EGX now faces a potential corrective dip before resuming its rise towards breaking a new resistance level, since it is difficult to breach successive resistance levels without correcting down.
It is difficult to offer Banque du Caire on stock market this year due to COVID-19 repercussions: Chairperson
Investors should focus on banking, non-banking financial sectors and chemical sectors: Abdel Hakim
EGX ends Sunday’s trading in green, market cap gains EGP 10.6bn
Moving above 10,600 points will help EGX breach resistance levels, says Okaz official
EGX trade sessions last week, also the final week of July, were limited to only four due to the run-up to the Eid Al-Adha holiday.
The amendments will see the stamp duty on the Egyptian Exchange (EGX) transactions for residents reduced to 0.5 per thousand on listed and non-listed securities. The tax will be 1.25 per thousand on stock market transactions for non-residents. There will be a full tax exemption on day trading.
European stocks slip amid concerns of surge in COVID-19 cases
Market capitalisation up by EGP 10.6bn, EGX30 up by 2.55%
Contribution from insurance companies amounts to EGP 255m, or 41.2%, of total FRA income
EGX30 up 1%, market capitalisation gains EGP 5.9bn on Monday
Trading sessions in main market will be from 10:00 to 14:30
The Parliament’s planning and budget committee raised on Wednesday the stamp duty on stock market dealings as part of a draft law submitted by the government and scheduled for discussion in a plenary session next Sunday.
Blue-chip index, the EGX 30, closed at the end of Wednesday’s session at 10,396 points, while the EGX70 EWI index decreased by 2.18%
EGX30 tests 10,800-11,000 points level in remaining sessions of Ramadan, says Lotfy
New index follows new methodology to better reflect performance of companies, says Mohamed Farid