Egyptian stock exchange sees surge in Monday trading

The Egyptian stock exchange indexes saw a significant surge in early Monday trading. The main index, EGX30, increased by 0.98 percent to 17403 points.

Moreover, the small and medium-sized companies index, EGX70, rose by 1.29 percent to 3021 points, and the EGX100 index rose by 1.29 percent to 3102 points.

The market capitalization of registered stocks reached LE1.125 trillion, and Arab and foreign investors moved towards buying, with a net value of LE3.5 million and LE4.6 million respectively.

Egyptians opted to sell with a net value of approximately LE8.1 million.

It is also pertinent to mention that the total trading value amounted to about LE449 million, with a quantity of 162 million papers executed through 18.9 thousand transactions.

This surge is an encouraging sign for the Egyptian economy, which has been recovering from the pandemic's impact.

The government's efforts to attract foreign investors have been paying off, with increasing interest in the country's various industries. Additionally, the stock exchange's modernization and digitization efforts have also contributed to its recent success.