Sunday 22 Dec
Stock Market indices recover and record collective gains in first session of the week, benefiting from strong performance of leading stocks, headed Talaat Mostafa Group Holding Company.
Egyptian stock market indices ended trading today with strong
gains, recording market capitalization of around EGP 73 billion. The main EGX30 index rose by 5.57%, closing at
26,011 points.
The EGX70 index for small and medium-sized stocks, rose by
about 2.59%, reaching a level of 5714 points. The wider EGX100 stock market
index also rose by 3.43%, closing at 8376 points.
During today's trading session, Talaat Mostafa Group's share
price rose by about 13.7% to close at EGP 58. A total of 443.187 million shares
of the group were traded.
The total value of stock trades reached EGP 2.75 billion.
The number of traded shares reached 205, of which 124 rose, 23 declined, and 58
remained unchanged.
The market capitalization of listed stocks gained about EGP
73 billion, to close at a level of EGP one trillion and EGP764 billion,
compared to EGP one trillion and EGP 691 billion, the previous closing level.
Arab and foreign investor dealings were directed towards
buying, with a net value of EGP 107.06 million and EGP 3.95 million,
respectively, compared to a net sale by Egyptian investors worth 111.02
million.
Today, Talat Mostafa Holding Group announced the purchase of
treasury shares up to a maximum of 10 million shares.
The company said that the purchase will be implemented
through the open market according to the trading price as of April 29, 2024,
and that it will be financed from the company's own resources.
It is noteworthy that Talaat Mostafa Holding Group recorded
a net profit after tax and non-controlling interests of EGP 3.31 billion in
2023, compared to profits of EGP 2.3 billion in 2022.
