The Egyptian stock market experienced a significant downturn mid-session on Thursday, September 24, 2026. The main index, EGX30, declined by 0.75%, closing at 53,818 points. This drop reflects a challenging trading environment for investors in the Egyptian market. Market analysts are closely monitoring the situation to understand the underlying factors contributing to this decline.
In addition to the EGX30, other key indices also showed declines. The EGX70, which tracks smaller and medium-sized stocks, fell by 0.90%, reaching 20,040 points. Similarly, the EGX100 index dropped by 0.94%, closing at 26,435 points. These declines across multiple indices suggest a broad-based weakness in the market.
The market capitalization of listed stocks stood at approximately 4.254 trillion Egyptian pounds by the end of the trading session. The total trading value was around 4.4 billion pounds, indicating a relatively high level of activity despite the market's downturn. A total of 42 stocks rose, while 155 declined, and 21 remained unchanged.
The Egyptian government has been working to attract investment and stimulate economic growth. Recently, Prime Minister Mostafa Madbouly expressed hopes for expanding Chevron's exploration activities in Egypt, highlighting the government's efforts to provide incentives for investment in the energy sector. Such initiatives aim to boost economic activity and potentially stabilize the stock market.
In other news, Fitch Ratings has assessed the impact of US restrictions on Egyptian bank branches in the UAE. According to Fitch, these restrictions have a limited effect on the credit rating of Egyptian banks. This assessment provides some reassurance to investors about the stability of Egyptian banks operating in the UAE.
On the political front, Egyptian President Abdel Fattah el-Sisi met with the head of the Iraqi Current Wisdom Movement to discuss regional issues and their implications for the Middle East. This meeting underscores Egypt's role in regional diplomacy and its efforts to address common challenges faced by neighboring countries.
In the technology sector, Nawy, an Egyptian proptech company, is seeking to raise between $50 million and $100 million in funding. This move aims to support the company's growth and expansion plans in the real estate technology space. Such investments are crucial for the development of Egypt's digital infrastructure and could have positive implications for the broader economy.
Key points
- The Egyptian stock market experienced a sharp decline mid-session, with the EGX30 index dropping 0.75%.
- The market capitalization of listed stocks stood at approximately 4.254 trillion Egyptian pounds.
- Egyptian Prime Minister Mostafa Madbouly expressed hopes for expanding Chevron's exploration activities in Egypt.
