Update(27/02/2024): In a second consecutive day of trading, the EGX30 is displaying a rebound, surpassing the index's closing price before the Sunday panic session. It is rapidly approaching the 30,000-point mark, currently standing at 29,948 points with a significant gain of +3.47%, adding 1,000 points on early trading hours of the day. Notably, the last highest point recorded was 30,696 points on 31/01/2024.
The EGX30, Egypt's main stock market index, is staging an impressive rebound, surging by +4.78% to reach 29,177 points almost recovered 90% of yesterday's session.
The majority of blue chip stocks are also experiencing positive momentum. Commercial International Bank (COMI) is up by +4%, trading at EGP 75.69 per share, while MOPCO (MFPC) is trading at EGP 63.15 per share, witnessing a surge of +2.76%.
Amidst the market rebound, the real estate sector continues to showcase exceptional performance, outperforming the overall market. Tallat Moustafa Group (TMGH) stands out as a prime example, as it once again trades at the limit up of the trading session, reaching a new historical high price of EGP 67.80 per share. The stock has surged impressively by +19.87%.
Following a deep red session yesterday, the petrochemical sector shows recovery, with most stocks returning to the green. Additionally, the banking sector is regaining strength and experiencing upward surges.
As the mid-session prices reveal a significant market recovery from yesterday's panicked session, we will continue to provide updates on market movements before the auction session and after the session concludes.
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