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Small-Caps Extend Rally as Heavyweights Pull EGX30 Lower
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The Middle East Observer
The EGX30 fell 0.35% to 54,094.33 points, while the EGX33 Shariah Index edged 0.13% lower to 6,163.83 points.
Concentrated Benchmark Masks Wider StrengthThe divergence followed Sunday’s broad rally, when all principal indices rose and small-cap shares recorded the strongest gains.
The gap highlights an increasingly important structural feature of the Egyptian market.
Farid has said daily trading of EGP10bn–EGP12bn does not reflect the scale of the Egyptian economy.
OutlookMonday’s session showed that the market’s momentum extends beyond the EGX30, but also that the rally is becoming more selective.