The Egyptian stock market began Tuesday's trading session with a collective rise in indices, recording transactions worth 1.2 billion pounds within the first 30 minutes. The main index, EGX30, increased by 0.28% to reach 55145 points. Other indices also saw gains, with EGX30 weighted index rising by 0.35% to 68694 points, and EGX30 total return index growing by 0.18% to 25703 points.
In addition to the main indices, other sectoral indices also experienced growth. The EGX35-LV index rose by 0.35% to 6794 points, while the EGX70 equal-weighted index, which tracks medium and small-sized companies, increased by 0.86% to 20655 points. The EGX100 equal-weighted index grew by 0.69% to 27185 points, and the Islamic Sharia index rose by 0.6% to 6645 points.
However, not all indices saw gains, as the EGX-Telmi index declined by 3.36% to 47022 points. Meanwhile, the Egyptian Exchange announced that trading was halted for four companies due to exceeding the 5% fluctuation limit. The companies affected were Rukaza Holding for Financial Investments, Nile for Pharmaceuticals and Chemical Industries, National Printing Company, and Hibco for Commercial and Real Estate Development.
In a related context, the Egyptian Exchange disclosed the transactions of insiders, major shareholders, and their related groups on listed companies during Monday's session. These transactions included both buying and selling operations across various sectors. For instance, industrial and engineering projects saw three transactions, including the sale of 1.5 million shares and purchase of 3 million shares by insiders.
Other companies also witnessed significant transactions. The International Agricultural Crops company saw a related group of major shareholders purchasing 1,000 shares. Additionally, Golden Textiles executed a buying transaction of 2,000 shares by a related group of insiders. The Arab Company for Cotton Ginning recorded two buying transactions by insiders, with 5,000 and 1,500 shares, respectively.
On the selling side, several companies saw insider transactions. The Arab Ceramics - Ceramica Rimas witnessed a sale of 2.21 million shares by an insider. Moreover, Egypt for Chemical Industries, Financial and Industrial Egypt, and Egypt for Cement - Qena all recorded sales transactions by insiders. Major shareholders and related groups were also involved in buying and selling operations across various companies.
The Egyptian stock market's performance is being closely monitored by investors and analysts. Key transactions and sectoral trends will likely influence future market movements. Major deals, such as the purchase of 11.5 million shares by an insider in Act Financial for Consultations, drew significant attention. Tuesday's trading session started on a positive note, but market dynamics can shift rapidly.
Key points
- Egyptian stock market indices collectively rose in early trading on Tuesday.
- Transactions worth 1.2 billion pounds were recorded within the first 30 minutes.
- Trading was halted for four companies due to exceeding the 5% fluctuation limit.
