top of page

Sewedy and Basic Resources Drive Index Rally with Over 10% Gains in Share Prices

The Basic Resources sector, primarily driven by petrochemicals, is fueling the index surge as MFPC, SKPC, EGCH, SMFR, EFIC, and AMOC (under the Energy sector) all trade with gains exceeding 10%. AMOC, in particular, is up 18% at EGP 8.10 per share. The main trigger for today's rally came from MFPC's impressive earnings report and news about El Sewedy Electric's acquisition offer.


Traded volumes for these stocks are significantly higher than their 5-day average.


SWDY represents 5.48% of the index weight, while MFPC contributes 3.03%. The EGX30 index is up by 4%, trading above 27,000 points at the level of 27,186. The table below outlines the changes and gains in the basic resources sectors.





Data as of 1:15 CLT on May 19, 2024



Disclaimer and Terms of Use


The data provided on any page at www.egvest.com aren't for any investment decision or taking any action of buy or sell of any asset or investments of any type; the information on this page has been obtained from sources that EGEVST believed to be reliable, we have not independently verified such information, and it may not be accurate or complete.

EGVEST.com published a delayed feed for the Egyptian stock exchange executed stocks and its leading indices through a previous contract with EGID "Egypt for Information Dissemination" the delayed feed is referred to below as "information."

The "information" displayed and published by EGVEST.com could lead to financial losses. It should be used on a personal and only personal responsibility. The "information" contains simplified mathematical calculations that clarify, simplify, and classify the "information" without using any financial valuation methods and don't represent any recommendation to buy, sell or hold financial assets.

The Data source is the Central Bank of Egypt website and on this system for display only without any analysis or recommendations


Comments


bottom of page