Egypt's stock market has regained its momentum after a series of downward sessions. The EGX30, the country's main stock market index, continues to exhibit positive performance, with a year-to-date (YTD) gain of +16.70%. Earlier this month, the index reached its all-time high at 34,501 points on March 11, 2024. The EGX70 EWI, another key index, also demonstrates a positive YTD performance of +15.50% as of 20/03/2024, 11:30 CLT.
Today, the Non-Banking Financial Services sector and the Industrial Goods, Services, and Automobile sector are among the top gainers. The Real Estate sector, which dominated the highest turnover across all sectors, also showed positive movement. Refer to the radar chart below for a visual representation of sector performance as of 11:51 CLT, 20/03/2024 session.
Additionally, EFG Holding (HRHO) has announced impressive financial results for the fiscal year ended 2023. The company achieved a net income surge of +38.6%, reaching EGP 2.49 billion (excluding non-controlling interests), compared to EGP 1.80 billion in the same period last year. Inclusion of non-controlling interests results in a surge of +47.1%, with net income reaching EGP 3.17 billion, compared to EGP 2.15 billion in the corresponding period last year. The earnings per share (EPS) also experienced a robust increase, reaching EGP 1.71/share, compared to EGP 1.24/share in the previous year.
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