EGX rings in new year with strong performance during its first 2024 session

Cairo – January 2, 2024: Stock market traders rang in the first session of the new year with a strong performance, closing on a significant high and adding LE 33.4 billion to the market cap.

Benchmark index EGX 30 rose by 2.44 percent to end the session at 25,501.94 points.

EGX 70 surged by 3.06 percent to 5,640.68 points with the strongest performance of the day, followed by EGX 100 climbing by 2.93 percent at 8,111.12 points.

Tuesday's trading saw 1.18 million shares exchanged with a turnover of LE 3.39 billion.

Market capitalization was recorded at LE 1.753,0 trillion, compared to the year’s close of LE 1.719,6 trillion.

Trading on securities saw Egyptian and Arab investors as net buyers with LE 48.18 million and LE 37.23 million, respectively. Foreign traders were net sellers with LE 85.42 million.

The top gains of the session were by Iron and Steel for Mines and Quarries which surged by 19.97 percent, International Agricultural Products by 15.54 percent, and Extracted Oils by 11.47 percent.

The largest losses of the session were by the Export Development Bank of Egypt which saw a slight dip of 3.38 percent, the Egyptian Modern Education Systems company by 3.37 percent, and Abu Dhabi Islamic Bank- Egypt by 1.95 percent.