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Monday, 7 February 2022

You can now short, buy on margin and day trade these EGX stocks

The EGX has shuffled its list of securities eligible for same-day trading, margin trading and short selling as part of its twice-yearly rebalancing, it announced in a statement (pdf) yesterday. The number of companies on the EGX’s category ‘A’ list (pdf) — which permits same-day trading and margin trading with up to 100% collateral — has fallen to 138 from 143. There are now 44 companies on the ‘B’ list (pdf) — which allows same-day trading and margin trading with up to 80% collateral — up from 33 previously. Meanwhile, the EGX increased the list of securities eligible for short selling (pdf) to 66 from 63. The changes are effective as of today’s trading session.

Short who and margin what? If you’re feeling lost, click through for our explainers on short selling and margin trading.

Who’s in and out of the EGX30? Four companies were added to the benchmark index and four rotated out as part of the rebalancing last week.

In: E-Finance, Abu Dhabi Islamic Bank Egypt, Orascom Construction, and the Housing and Development Bank.

Out: Speed Medical, Egyptian for Tourism, Aspire Capital and Gadwa for Industrial Development.

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