Market Commentary

 

25/01/2023

The local market headed north today with EGX30 surging 2.13% to close at 16,791.11pts, and ‎EGX70 adding 2.13% to close at 3,031.99pts. Over the week, EGX30 increased 4.51% and EGX70 surged 1.14%.

 Today’s turnover recorded EGP 2.55bn distributed over 495mn shares. Arab and Foreign investors stepped in as net buyers with EGP 132.45mn and EGP 151.24mn respectively, while Local investors stepped out as net sellers with EGP 283.69mn. ‎‎Retail accounted for 70.08% of total turnover while institutions trades accounted for ‎‎the remaining 29.92%.‎

Today’s top gainers’ list was led Orascom Development Egypt (ORHD.CA) surging 19.89% to close at EGP 8.98. Marseille Almasreia (MAAL.CA) followed suit rising 14.02% to close at EGP 1.586. Arab Aluminum (ALUM.CA) came in 3rd place adding 11.7% to close at EGP 44.6.

On the other hand, top losers’ list was Cairo Pharmaceuticals (CPCI.CA) falling 9.39% to close at EGP 44.5. El-Nile Pharmaceuticals (NIPH.CA) followed suit dropping 5.76% to close at EGP 36. General Silos & Storage (GSSC.CA) came in 3rd place dipping 4.84% to close at EGP 120.

 

 

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