FILE- The EGX trading session on December 12, 2017, which is the first trading day of Ibnsina IPO
CAIRO – 28 April 2019: Trading is still off on the Egyptian Exchange for the second session in a row to be resumed on Tuesday, April 30.
Earlier this month, the Egyptian Exchange (EGX) announced several official holidays for the bourse during the coming period. Thursday, April 25, was a holiday in celebration Sinai Liberation Day.
It added that trading will be off on Sunday, April 28, on the occasion of Easter. Easter commemorates the resurrection of Jesus from the dead, described in the New Testament as having occurred on the third day after his crucifixion by the Romans at Calvary c. 30 AD.
Moreover, EGX will be off on Monday, April 29, in celebration of Sham Ennesim, which is an Egyptian national holiday marking the beginning of spring. It always falls on the day after the Eastern Easter.
Trading will be resumed on Tuesday, April 30, to be off again on Wednesday, May 1, which marks Labor Day. Labor Day, also called International Workers’ Day, is a celebration of the working classes and occurs every year on May Day, an ancient European spring festival.
EGX will back to trading normally on Thursday, May 2, according to EGX statement.
The last official holiday for Egypt’s bourse was on Thursday, January 24, in celebration of the National Police Day and January 25 Revolution.
OnWednesday, April 24, EGX ended trading in a semi-collective rise, as EGX30 rose 0.85 percent, EGX50 increased 0.16 percent, and EGX100 inched up 0.05 percent, while EGX70 declined 0.04 percent. It added LE 3.78 billion to market capitalization.
Market Capitalization of the Egyptian Exchange (EGX) gained around LE4.79 billion during the fourth week of April.Market Capitalization recorded LE 805.61 billion by the end of Wednesday’s session, April 24, compared to LE 810.41 billion in Thursday’s session, April 18.
Meanwhile, EGX announced the trading session dates during the month of Ramadan, clarifying that the trading session of listed securities (Main Market) and Small & Medium Enterprises Stock Exchange (NILEX) will be held from 10a.m. to 1:30 p.m. and will be preceded by a discovery session that starts at 9:30 a.m.