Back to the complete issue
Sunday, 6 January 2019

EGX30 falls 13.2% in 2018 amid emerging markets sell-off

**#1 The Egyptian bourse’s benchmark EGX30 index fell 13.2% in 2018 amid global markets fluctuations and the emerging markets sell-off, EGX Chairman Mohamed Farid said. Farid noted that EGX50 also fell 16.3% last year. Foreign purchases in the EGX dropped to EGP 5.73 bn in 2018 from EGP 9.55 bn the year before, an annual report showed (pdf).

Volumes down but values are up: Trade volumes declined to 60.8 bn securities from 77.9 bn the previous year despite total trades values rising 7.92%, registering EGP 358.5 bn from around EGP 332.2 bn in 2017. The number of transactions went down last year to 6.3 mn from 7 mn.

The number of new investors went up 8.5%, reaching 24,000 from 22,000 last year and the number of foreign institutions that entered the market went up to 1,187 from 1,164 last year.

Looking ahead, Egypt is also planning to launch a new index to replace one of its five indices before the end of 1Q2019 as part of efforts to restructure its stock market.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2021 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of Commercial International Bank (tax ID: 204-891-949), the largest private-sector bank in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; and Act Financial (tax ID: 493-924-612), the leading activist investor in Egypt; and Abu Auf (tax ID: 584-628-846), the leading health foodmaker in Egypt and the region.