The main index of the Egyptian Stock Exchange closed today’s transactions at record levels, which are the highest in three years to erase its losses since the beginning of 2022, supported by recent economic reforms, on top His high investment attractiveness.
The main index of the “EGX30” market increased at the end of today’s transactions by 1. 3% to reach the levels of 12136. 37 points, which is the highest level it reached since March 2020 when he scored 12347. 65 points.
At the heights, the main index is the losses that incurred it since the beginning of the year; They recorded 1. 57%rises, and rising from the lowest levels he reached in July of this year by 37%, and Ihab Rashad, an expert in the financial markets, said, “The Egyptian market is in an upward direction since the liberalization of the dollar exchange rate against the pound, which encouraged foreigners to return to the market again.
Since the Central Bank announced on October 27, the liberalization of the exchange rate of foreign currencies against the pound is subject to supply and demand; The dollar rose from 19. 70 pounds to 24. 46 pounds so far, to win the market capital during the same period about 78. 9 billion pounds.
Saeed Al -Fiqi, the financial market expert, said the main index was able to confine important resistance levels at the session today 12 thousand points, which the expectations indicated that they exceeded them He will enter it in a long -term emerging direction and raise the sizes of trading.
From the market at 15 pounds, then they returned to it at 24 pounds to achieve dual gains from an increase in the purchasing power of the dollar 60%, besides that the stock prices did not rise significantly, and they still have promising opportunities for profitability
Al -Fiqi indicated that history is currently restoring itself, as happened in the first float in 2016, as the index rose 10 thousand points from the levels of 8 thousand to more than 18 thousand points.
This added a new liberation in the exchange rate that brings foreigners to the market, especially since the Egyptian Stock Exchange She did not take her luck from ascending for nearly 15 years.
The evacuation of today’s transactions witnessed us in the volumes of trading to record 3 billion pounds by trading on 693. 2 million shares through the implementation of 59,000 sales and purchases.
About 62 shares out of 193 shares were traded, while 61 shares decreased, and the highly shares list of Oden Financial Investments is issued by 16. 29%..
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