Market Capitalization gains LE 149.3B during Q1 of 2018

CAIRO – 1 April 2018: The Egyptian Exchange’s market capitalization recorded an increase of 18.1 percent during the first quarter of 2018, recording LE 974.179 billion ($55.08 million) to gain LE 149.3 billion, as compared to the same period of 2017.

Market capitalization of the benchmark EGX30 also rose 32.8 percent to reach LE 535.162 billion, compared to LE 403.05 billion in the first quarter of 2017.

While the market capitalization of small and mid-cap index EGX70 decreased in the mentioned period, by 8.2 percent to LE 204.06 billion, compared to LE 222.243 billion in the prior period.

For the broader index EGX100, it jumped 18.2 percent to mark LE 739.22 billion up from LE 625.29 billion during the compared previous period.

In March, market capitalization gained LE 81.89 billion, ending the month at LE 974.18 billion.

During the last week of March, EGX gained LE 10.5 billion as compared to LE 963.65 billion on March 22.

The Egyptian Exchange gained about LE 10 billion over the past week, amid large purchases by foreign investors, pushed by optimism about an economic breakthrough following the end of Egypt's presidential election.

Meanwhile, Egypt witnessed its presidential election in March, in a race that pit incumbent President Abdel Fatah al-Sisi against Al-Ghad party chairperson, Moussa Moustafa Moussa.

The 2018 presidential election is the third poll to take place in Egypt since the January 2011 revolution.

Initial figures showed that 21,088,295 voted for Sisi in polling stations across Egypt, excluding several stations in Cairo and Giza; Moussa on the other hand gathered 682,797 votes.