EGX suspends trading Tuesday, benchmark drops 0.9% in June
Egyptian stock exchange - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) is closed Tuesday on the occasion of banks holiday, while the monthly report revealed that the benchmark index EGX30 dropped 0.98 percent during June, closing at 8,162 points on Monday.

Meanwhile, the small and mid-cap index EGX70 added 0.28 percent to hit 591 points and the broader index EGX100 also increased 0.33 percent to reach 1,034 points, according to EGX report issued Tuesday.

EGX30 reached its peak at 8,799 points, while the lowest level amounted to 7,723 points during the course of the month.

Trading value totaled 41.9 billion EGP in June, with 5.639 billion securities traded over 541,000 transactions, compared to a total of 28.6 billion EGP during May, and 5.433 billion trades on 595,000 transactions.

Market capitalization maintained the same level of May, registering 478 billion EGP.

Deputy Head of EG-Finance Association Mohsen Adel said reactivating and bolstering Egypt’s stock market requires great efforts from both political and economic sides, starting with achieving stability and security in addition to assuring investors.

Adel further called for the restructure of default systems and laws, in addition to restructuring the market to widen institutions participation in order to lure medium and long-term investments which emerged recently in the market.

“The market is expected to witness a big leap in the coming period, if the political and economic situations are settled,” Adel said. Meanwhile, the market investment boom will bet on positive reports about the listed corporate and the ability to attract new liquidity.

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