Ahmed Kamel – Egypt Daily News
Egypt’s stock market surged to new record levels last week, driven by strong investor sentiment and robust gains across major indices. Market capitalization of listed companies surpassed LE 3.15 trillion for the first time, rising by roughly LE 180 billion from the previous week’s LE 2.973 trillion, marking a 6.08 percent increase.
The benchmark EGX30 index jumped 7.19 percent, closing at a record 46,462.32 points, while the EGX70 EWI index, tracking small and mid-cap stocks, gained 4.82 percent to 12,784.36 points. The broader EGX100 index also rose 5.37 percent, finishing at 17,317.95 points.
Despite the gains, weekly trading value declined to LE 450.6 billion, down from LE 667.8 billion the previous week, with bonds and treasury bills accounting for approximately 91 percent of total turnover, according to the weekly report from the Egyptian Exchange.
Analysts attribute the market’s record performance to renewed investor confidence amid signs of economic stability, increased foreign and domestic participation, and strong performance in key sectors.
