“Stock Market Soars 1.68% on Sunday Following Certificate Issuance by Al-Ahly and Egypt Banks”

I wrote – Sherine Salah:

The main index of the Stock Exchange, EGX30, rose by 1.68% to the level of 16,694 points, at the end of trading today, Sunday, with the support of the purchases of Egyptian investors.

The EGX70 EWI index for small and medium stocks rose by 1.42%, and the broader EGX100EWI index rose by 1.63%.

Egyptian investors’ transactions recorded a net purchase of shares at a value of 74.5 million pounds, while foreign investors’ transactions recorded a net sale of 44 million pounds, and Arab investors’ transactions recorded a net sale of 30.4 million pounds.

This comes in the first dealings after the Al-Ahly and Egypt Banks announced this morning the launch of two new savings certificates for a period of 3 years, with a high return.

The two banks said in a joint statement today that the first certificate has a fixed return for a period of 3 years at a rate of 19% annually, and the return is paid monthly, and the second; With a decreasing return for 3 years, at an annual rate of 22% for the first year, 18% for the second year, and 16% for the third year, and the return is paid monthly.

The main index of the stock exchange, EGX30, rose slightly by 0.04%, to the level of 16,418 points, at the end of last Thursday’s trading.