Back to the complete issue
Monday, 31 January 2022

Market roundup on 31 January

The EGX30 rose 0.3% at today’s close on turnover of EGP 647 mn (41.5% below the 90-day average). Foreign investors were net sellers. The index is down 3.8% YTD.

In the green: TMG Holding (+8.6%), Qalaa Holdings (+5.2%) and Madinet Nasr Holding (+4.0%).

In the red: CIRA (-3.6%), Fawry (-1.8%) and CIB (-1.0%).

MARKET NEWS- Who’s in and who’s out of the EGX30: E-Finance, Abu Dhabi Islamic Bank Egypt, Orascom Construction, and the Housing and Development Bank have all been included in the EGX30 after the the bourse finished its semi-annual review of indices today. Speed Medical, Egyptian for Tourism, Aspire Capital and Gadwa for Industrial Development were among the companies that were dropped from the index, according to a bourse statement (pdf).

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. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender 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; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.