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Small-Caps Push EGX Higher as Local Buying Broadens August Rally
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The Middle East Observer
Market participation remained healthy.
Broader Market Continues to OutperformTuesday reinforced the divergence that has emerged between Egypt’s benchmark index and its equal-weighted counterparts.
Domestic Investors Continue to Underpin TradingRegular-session trading data showed Egyptian investors as modest net buyers, while Arab and non-Arab foreign investors recorded limited net sales.
Relative exchange-rate stability continues to support investor confidence by limiting one of the principal risks facing foreign investors in Egyptian assets.
EGX Chairman Omar Radwan has argued that stronger foreign-exchange liquidity, improved market turnover and healthier external balances reinforce Egypt’s case for retaining its current status.