The Egyptian Exchange (EGX) surged to a historic high during the opening session on Tuesday, signaling robust investor confidence and continued momentum in one of the region’s top-performing markets.
The EGX30 index, which tracks Egypt’s 30 most liquid companies, opened the day with sharp gains, hitting record levels not seen in the bourse’s history. Analysts attribute the rally to a combination of macroeconomic reforms, strong corporate earnings, and increasing foreign investor inflows.
“This morning’s performance reflects both market optimism and Egypt’s improving economic fundamentals,” said Hani Genena, a Cairo-based financial analyst. “Investors are responding positively to stability signals and strong trading volumes.”
Sectors leading the rally include banking, real estate, and industrials, with notable gains by blue-chip companies such as Commercial International Bank (CIB), Talaat Moustafa Group, and Eastern Company. The EGX70 and EGX100 indexes also recorded impressive upticks, reinforcing broad market strength.
The surge comes amid Egypt’s continued engagement with international financial institutions, including the IMF, and efforts to attract foreign direct investment through privatization and structural reforms. Market watchers say Egypt’s equities are benefiting from a global hunt for high-yield emerging market opportunities.
However, some experts caution that while short-term performance is strong, volatility may return, especially in light of regional tensions and global economic headwinds.
Still, for now, Tuesday’s opening bell was met with cheers on the EGX floor, as Egypt’s stock market celebrates a new milestone in its upward climb.
source:amwalalghad.com
