Egypt - The depositary receipts of CIB and EFG Holdings sustained their upward trajectory on the London Stock Exchange, marking the second consecutive week of gains.

CIB’s depositary receipt climbed by 19.8%, closing last week at $1.81, while EFG’s receipt increased by approximately 5.2%, ending at $0.80.

In other developments, Edita Food Industries’ depositary receipt maintained a steady price of $1.99 for the second week running, as did Orascom Financial Holding, priced at $0.01.

At the close of Sunday’s trading, the Egyptian Exchange indices saw net sales from Egyptians totaling EGP 175m.

The benchmark EGX30 index fell by 0.81%, finishing at 31,062 points, which is a 24.78% rise since the start of the year.

The EGX70 EWI dipped by 0.94% to 6,820 points, the broader EGX100 EWI decreased by 1.08% to 9,767 points, and the EGX30 Capped index declined by 1.35% to 37,698 points.

Trading activity reached EGP 3.4bn, with 620 million shares exchanged in 112,000 transactions, involving 206 listed companies. By the session’s end, 52 stocks had advanced, led by Saib Bank with a 20% increase, and Cairo Oil and Soap Company with a 19.53% rise.

Conversely, the prices of 95 stocks fell, with Misr Oil and Soap Company experiencing the largest drop of roughly 11.02%, followed by Contact Financial with a decrease of about 9.07%. The prices of 59 stocks remained stable. The market’s total capitalization reached EGP 2trn.

Arab and foreign investors were net buyers, with transactions amounting to EGP 89m and EGP 86m, respectively, representing 5.71% and 6.9% of the market. Conversely, Egyptian investors were net sellers, with transactions totaling about EGP 175m, accounting for 87.39%.

Individual investors were responsible for 70.2% of the market activity, with Egyptian and foreign individuals registering net sales of EGP 205m and EGP 1m, respectively. Arab individuals were net buyers, with purchases of EGP 31m.

Institutional investors made up 29.27% of the market transactions, with local and Arab institutions recording net purchases of EGP 30m and EGP 58m, respectively. Foreign institutions showed a buying trend with net purchases of EGP 87m.

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