Egypt’s stock exchange continued its positive momentum on Tuesday, with key indices recording steady gains by the middle of the trading session, reflecting renewed investor confidence and improving market sentiment.
The benchmark EGX30 index rose by 0.47%, reaching 37,587 points, bolstered by strong performances in heavyweight stocks and select blue-chip companies. The EGX35-LV index followed suit, increasing by 0.52% to settle at 4,150 points.
Meanwhile, the EGX70 index, which tracks small and medium-sized enterprises, recorded the highest percentage gain among the major indices, climbing 0.7% to reach 11,557 points. This rise underscores growing investor appetite for mid-cap and emerging stocks.
The EGX100 index, representing a broader measure of market performance, also gained 0.59% to reach 15,269 points, while the Sharia-compliant index edged up 0.07% to 3,793 points, signalling cautious optimism among investors in ethical and Islamic-compliant investments.
Analysts attributed the continued upward movement to improved investor sentiment driven by economic stability and easing inflationary pressures. Trading volumes and liquidity also saw a moderate uptick, suggesting a broader market participation compared to previous sessions.
Although market volatility remains a concern amid global economic uncertainties, Egypt’s stock market appears to be benefiting from positive domestic developments and a resilient financial sector.
The performance across the board reflects a cautiously optimistic outlook as traders continue to monitor macroeconomic indicators and corporate earnings results.
As the trading day progresses, all eyes remain on how the market will close, with hopes that today’s early gains will solidify into a strong finish.
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