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Egyptian Stock Exchange registers record gains in May

The monthly report of the Egyptian Stock Exchange howed that the market capitalization of shares of listed companies gained about LE 139 billion.
03.06.24 | Source: Egypt Independent

The Egyptian Stock Exchange achieved record gains in May 2024, supported by strong purchases of stocks in many sectors against the backdrop of continued optimism about improving economic conditions, with an increase in foreign exchange flows and a number of credit rating institutions raising the rating of the Egyptian economy, accompanied by announcement of many large amount acquisition deals worth of companies listed on the Egyptian Stock Exchange attesting to the increased luring abilities of the Egyptian economy.





The monthly report of the Egyptian Stock Exchange – a copy of which was received by MENA Friday – showed that the market capitalization of shares of listed companies gained about LE 139 billion during the transactions of May 2024, reaching about LE1.813 trillion, compared to LE 1.674 trillion in the previous month’s transactions, an increase of 8.29 percent.


The main and secondary Egyptian Stock Exchange indices recorded collective increases during the trading of May 2024, as the main stock index (EGX30) rose by 10.12 percent to reach the level of 26922.76 points and the small and medium-sized stock index (EGX70) increased by 6.43 percent to reach the level of 5932.24 points, the report said. The gains included the broader EGX100 index, which increased by about 7.76 percent to reach the level of 8,554.56 points, it added.




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