Egypt's EGX gains $2.25bln in market cap in November

The market’s turnover amounted to $3.60bln last month

  
The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.

The Egyptian Exchange bell is seen at the stock exchange in Cairo, Egypt February 6, 2018. Image used for illustrative purpose.

REUTERS/Amr Abdallah Dalsh

Cairo – The Egyptian Exchange (EGX) continued to recover some of its losses from the coronavirus (COVID-19) crisis.

The market cap value advanced by EGP 35.4 billion or 5.14% to EGP 636.5 billion at the end of November from EGP 601.084 billion a month earlier.

Over the course of November, the main EGX30 index rose by 4.97% to end at 10,943 points as the heavyweight Commercial International Bank (CIB) added 1.92% to EGP 62.22 after generating a turnover of EGP 2.4 million.

In the meantime, the small- and mid-cap EGX70 EWI climbed by 9.1% to 2,040, while the EGX100 EWI increased by 8.76% to 2,983 points.

Likewise, the EGX50 EWI jumped by 10.41% during November to stand at 2,197 points.

Most Arab and GCC stock markets witnessed positive performance during the month, following the announcement of several coronavirus vaccines.

The market’s turnover amounted to EGP 56.6 billion last month, compared to EGP 47.9 billion in October, while the trading volume registered 11.05 billion shares in November from 7.005 billion a month before.

Source: Mubasher

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