Government IPO programme helped Egypt’s stock market end last week’s trading in the green zone, as optimism prevailed among stock market dealers. The benchmark index EGX30 closed at 17,342 points at the end of last week’s trading, recording an increase of 1.4%, while EGX70 EWI declined by 1.33% to 3,428 points. EGX30 capped rose by about 1.08% to 21,074 points, and the EGX100 broader index declined by 1.2% to settle at 5084 points. Ashmawy expected the main index EGX30 to rise to levels of 17800 points during this week’s trading, and a positive performance for stock market indicators due to positive and stimulating news for the current economy. Egypt’s stock market recovered from a sharp drop last week, as positive news of government exit deals boosted investor sentiment, said Mohamed Hassan, Investment Funds Director at Odin Investments.

Source: Daily News Egypt July 15, 2023 19:17 UTC