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EGX gains hit record in first presidential term of Sisi

The Egyptian Exchange gains hit a record during the first presidential term of President Abdel Fattah El-Sisi who took the helm in June 2014.

 El-Sisi was sworn in on Saturday for the second presidential term.

The market capital upped by LE 470 billion to stand at LE 930 billion last Thursday against LE 460 billion in June 2014, according to the bourse's data.

The rise stands at 102% which is the highest in the bourse's history.

The bourse is expected to realize more record gains in the second presidential term from 2018 to 2022.

The EGX indices hit record during the first  presidential term.

 The EGX 30 benchmark index skyrocketed by 108% to stand at 16,414 points for first time in its history during the past four years.

Ahmed Shams El Din, the Head of Research at EFG Hermes, expected the bourse to flourish in the second term.

Plans for floating 20 Egyptian state-owned companies at EGX  in the coming two years will boost the bourse, he said.

 

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