Egyptian Exchange Opens Strongly, Boosted by Real Estate Stocks and EGX30 Gains

Cairo | EcoPulse24

The Egyptian Exchange commenced trading today with a significant increase, as the EGX30 index climbed by 0.37% to 41,256 points, supported by strong performance from leading and real estate stocks. The index reached an early high of 41,285 points and a low of 41,103 points, indicating clear buying momentum from the opening bell.

Top gainers in the opening session included Copri for Commercial Investment and Real Estate Development (+6.03%), Devina for Investment and Development (+5.43%), Telecom Egypt (+4.75%), Rowad Tourism (+3.83%), and Cairo Housing and Development (+2.95%).

On the other hand, some stocks recorded limited declines, such as The Arab Canadian Real Estate Investment (-5.38%), Modern Education Systems (-3.48%), Egytrans (-1.14%), Arab Aluminum (-1.13%), and Development & Engineering Consultants (-1.05%).

Preliminary trading data showed heightened activity, with about 2,932 transactions executed on more than 4.35 million shares, totaling approximately EGP 62.1 million, reflecting active participation by traders at the start of the session.

The opening reflects positive sentiment in the Egyptian market, driven by selective buying in real estate and leading stocks, as investors watch to see if the momentum continues through the rest of the session, especially with the EGX30 index hovering near key technical levels.