The stock market gains 5 billion pounds in 5 minutes (details)

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The Egyptian Stock Exchange indicators recorded strong rises in the first minutes of the trading session, Sunday, the beginning of the week’s trading, amid intense buying demand from local institutions, investment funds and Egyptian individuals on shares with support from the state of optimism after the Prime Minister’s statements regarding the gradual opening of the economy after Eid Al-Fitr, coincided That is, with many of the world’s major and neighboring stock exchanges recovering.

The market capital of the shares of companies listed on the Egyptian Stock Exchange gained about 5 billion pounds in the first 5 minutes from the start of today’s trading session to reach 560.5 billion pounds, and the Stock Exchange management suspended trading on 25 shares for 10 minutes to register the maximum allowable percentages during a single session of 5% .

The main stock index, EGX 30, increased by 1.35%, recording 10256.66 points, while gains were more strong at the level of the small and medium-sized shares index, “EGX 70”, which jumped 2.5% to 1174.71 points, and the strong gains of the “EGX 100” index extended. The broader which gained in the first minutes of trading today, 1.1% to reach 1107.16 points.

Ahmed Abdel Hamid, Managing Director of Document Securities Brokerage Company, said that the statements of Prime Minister Dr. Mustafa Madbouly at the end of last week about easing the dates of the embargo and the gradual opening of the economy after the month of Ramadan, in addition to the recovery of oil prices and the increases recorded by the global financial markets, whether large or neighboring, strengthened From the rise of the Egyptian Stock Exchange.

He added that the market is witnessing strong purchases from institutions and investment funds on major and leading stocks, accompanied by a strong activity of individual investors on small and medium shares, of which a large number of them registered the maximum allowable ratios during a single session once the trading session started due to strong purchase orders by investors.

The Egyptian Stock Exchange recovered more than 80 billion pounds of its losses at the end of last week, since the Egyptian banks announced plans to support them, under the guidance of President Abdel Fattah al-Sisi, who directed the central bank to allocate 20 billion pounds to support the stock market, along with Al-Ahly and Egypt’s announcement of pumping 3 billion pounds To buy shares from the Egyptian Stock Exchange.