The Egyptian Stock Exchange begins this week's trading today, Sunday, with a strong rise exceeding 428 points, an increase of 1.76%, at 11:26 Cairo time. The main index of the Egyptian Stock Exchange, EGX30, now reaches 24,811.99 points, the highest peak of the index historically.
(Update: The Egyptian Stock Exchange continues to rise and has risen by more than 2.15% at 12:25 Cairo time, to now record 24,906.3 points, an increase of 523 points today, Sunday)
The most active stocks in the EGX30 today
High sentiment dominates trading today, with strong buying rates in the market. The shares of Orascon Investment Holding OIH, Beltone BTFH, Qalaa Financial Consulting Company (EGX: CCAPP), Palm Hills Development, and Fawry are among the most active in today’s trading so far.
The secret to the rise of Beltone Financial Holding (EGX:BTFH) in today’s trading
EGVEST, the economic website concerned with Egyptian financial market news, said that Beltone Financial Company, one of the fastest growing investment banks in Egypt, announced that its subsidiary Beltone Real Estate Finance Company had obtained final approval from the Financial Regulatory Authority for its real estate financing license. Beltone plans to take advantage of this license to meet the growing demand for real estate financing, whether from individuals or companies.
Beltone stock is trading, according to Saudi Investing data, at 3,850 pounds per share, an increase of 0.52%, and the financial soundness of the stock is rated by the InvestingPro stock monitoring tool at 4 out of 5 (outstanding).
It is noteworthy that Beltone is rising today for the fifth session in a row, as the current series of rises began on November 13 when it rose 0.27%, then 1.36%, then 0.27%, then 2.41%, and is rising today by 0.52%.
Egyptian stocks rise to historic peaks
The EGVEST website reported that the rise of the 30th index of the Egyptian Stock Exchange to the historical peak was accompanied by the rise of many stocks to the historical peak, the most important of which are the Commercial International Bank (EGX:COMI) COMI stock, the Alexandria Container Company stock ALCN, and the Abu Dhabi Gas Company stock ADIB.
According to Egyvest data, the Egyptian Stock Exchange succeeded during the first hour of trading in experiencing a strong upward rally that reached 24,741 points, which it later surpassed, thus recording a new historical peak.
The Commercial International Bank rose to 74.61 pounds per share, an increase of 3.62% to a new historical peak, and the Commercial International Bank share is the stock with the most weight in the main index of the Egyptian Stock Exchange.
Alexandria Container Company ALCN's stock rose 2.64% to 42.7, testing a new historical peak. Abu Dhabi Islamic Bank (ADIB) shares rose by 5.93%, reaching a new historical peak at 37.5 pounds per share, and it is considered the highest gainer on the Egyptian Stock Exchange until the time of writing the news.
