EGX gains reflect continued investor optimism in the Egyptian economy

Egyptian Exchange (EGX) closed Wednesday's session with a collective rise in its indexes driven by buying operations from Arab investors, amid trading exceeding LE2.8 billion, and a market capitalization gain of LE6 billion, closing at the level of LE1.136 trillion.

The EGX 30 index rose by 0.97 percent to close at 17494 points, and the EGX 50 index climbed by 1.4 percent to close at 3148 points. Additionally, the EGX 30 jumped by 1.07 percent to close at 21021 points, while the index rose by 0.96 percent to close at 7291 points.

Furthermore, the EGX 70, which includes small and medium-sized companies, increased by 0.65 percent to close at 3049 points, and the equally weighted index EGX 100 rose by 0.92 percent to close at 4640 points.

These gains reflect the continued optimism among investors about the performance of the Egyptian economy, as well as the government's ongoing efforts to attract foreign investment and support local industries.

In related news, the International Monetary Fund (IMF) recently praised Egypt's economic reforms and its efforts to improve the investment climate, stating that the country's economic outlook remains positive despite the challenges posed by the COVID-19 pandemic.

The IMF's positive assessment of Egypt's economic performance is expected to further boost investor confidence in the country's stock market.