Institutions step in to save Egyptian stock exchange from weekly losses

While the Egyptian Stock Exchange indices ended their weekly trades with mixed results, listed stocks managed to make slight weekly gains, supported by strong purchases from local institutions and funds.

According to the Egyptian Stock Exchange’s weekly report, the share capital of listed companies rose 0.21%, gaining around 1.5 billion pounds, after rising from the 706.3 billion pounds level by closing transactions in last week at the level of 707.8 billion. books at the close of trading on Thursday.

At the indicator level, the main “EGX 30” index recorded slight weekly losses after falling 0.44%, losing around 52 points, after falling from the level of 11,598 points at last week’s trade close to around 11,546 points by the close of negotiations on Thursday.

In contrast, the “EGX 70” small and medium-sized business index of equal weight rose 1.57%, adding around 38 points, after rising from the level of 2414 points at the close of trade last week to around 2452. points in yesterday’s closing trades.

The even-weighted EGX 100 index rose 1.4%, adding around 48 points, after rising from the 3,440 point level when last week’s trading closed to around 3,488 points when trading closed on Thursday.

In terms of trading yesterday, stock indexes recorded collective gains supported by the buying operations of local institutions and investment funds, while transactions by foreign and Arab investors tended to sell off.

The market capitalization of shares of publicly traded companies was around £ 1.5bn, out of a total of £ 5.5bn trades, comprising major dealer market trades and dealership trades. transfer of ownership.

The main index, “EGX30”, increased by 0.01%, and the small and medium-sized equity index “EGX 70” increased by 0.73% and the larger index by 0.56%.

Yesterday’s session saw stock prices of 104 companies rise, while stock prices of 70 companies retreated, while shares of 15 companies stabilized at their previous close levels.