We delve into the remarkable history of one of the biggest hikes in the EGX's past. It is important to note that the following data is not a recommendation or analysis, but rather an analytical overview of the index's performance during the period from 2003 to 2008. This serves to provide our users with insights into the significant growth witnessed in the EGX30 during this timeframe.
The data presented is based on the closing prices of the index between 2003 and 2008, specifically highlighting the highest closing session point reached in 2008.
During the period from 2003 to 2008, the EGX30 index soared by an astonishing 2,322%, indicating a staggering increase of 11,443 points. The index commenced trading in 2003 with an opening mark of 492 points and experienced a historic milestone on May 5th, 2008, when it reached its highest close level at an impressive 11,936 points. However, the index faced challenges as it closed out 2008 amidst the repercussions of the United States financial crisis, ending the year at 4,596 points. Nonetheless, the overall return for the year stood at an impressive +832.63%, reflecting a gain of 4,104 points.
The table below ( Table 1) provides a yearly breakdown of the index's returns from 2003 to 2008:
Table 1
Additionally, the table (Table 2) illustrates the change between the opening point of 2003, the highest closing point of 2008, and the closing point after the United States financial crisis in 2008.
Table 2
Please note that market conditions and dynamics have evolved since this period, and past performance is not indicative of future results. It is crucial for investors to conduct thorough research and seek professional advice when making investment decisions.
Disclaimer: The information presented in this article is based on historical data available at the time of writing and should not be construed as financial advice. The data provided is for informational purposes only and does not constitute a recommendation or analysis.
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