Egyptian Stock Exchange Earns 315 Billion Pounds in First 8 Months of 2023
Egyptian media reported that the Egyptian stock exchange earned 315 billion pounds in the first 8 months of the current 2023.
Egyptian Stock Exchange Continues to Rise
And according to what was mentioned on the Cairo 24 website, the Egyptian Stock Exchange indices continued to rise during the first 8 months of the current calendar year 2023 amid huge buying from local institutions as capital The Egyptian Stock Exchange market was around £315 billion in the first 8 months of this year, jumping from £961,222 billion on December 29, 2023 to £1,276,185 trillion last Thursday, August 31, 2023.
EGX30 Main Market Index
Cairo 24 reported that the EGX30 main market index is up 29.29% since the start of the year, jumping to a close of 18,874 points, with the index up 0.3% during last Thursday’s session.
Change in Foreign Investor Behavior
It was noted that during last week’s trading, foreign investors changed their behavior on the Egyptian Stock Exchange as they witnessed Ahmed El Sheikh take over as President of the Egyptian Stock Exchange for a year, replacing Rami El Dokani.
Foreign Investors’ Net Sales
Foreigners also posted a net sale of £303m for the first time in August in the last week. Their net sales on the Egyptian Stock Exchange since the beginning of the year have fallen to 8.5 billion pounds on the back of an optimistic trend. it dominated their relationship.
While transactions with Egyptians accounted for 87.5% of the total transactions in listed shares, foreigners accounted for 6.3% and Arabs 5.8%, excluding transactions.
Source: Cairo 24