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Foreign investors regain footing in Egyptian stocks
The Egyptian stock market experienced a partial rebound after significant losses at the start of trading, when losses in the first half-hour amounted to approximately 119 billion Egyptian pounds. However, market indices managed to stabilize thanks to strong buying activity from foreign institutions, which registered net purchases of 186.2 million pounds, compared to net sales by Egyptian institutions totaling 117 million pounds. During mid-session, the EGX 30 index rose by 0.09% to reach 53,081 points, after falling by more than 2% at the beginning of the session. Likewise, the EGX 70 index cut its losses to 0.37%, closing at 18,996 points, while the EGX 100 dropped by 0.25% to 25,253 points. On the stock level, shares of Arabia Investments, Arabia for Investment and Development, and Arab Ceramic experienced gains between 4.9% and 5.7%. Conversely, the shares of Arab Metal Industries, Industrial Investments, Orascom Investment, and Golden Tux were the most affected, dropping between 6% and 15.2%. The market's performance remains supported by foreign buying, while Egyptian institutions continued to sell, reflecting a continuation of the market’s recovery after a wave of heavy losses.
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