The EGX30 climbed 4.4% in October to close at 38.3k points, according to the EGX’smonthly report (pdf). The gauge traded between a high of 38.4k and a low of 36.7k during the month, underperforming the EGX33 Shariah Index which advanced 7.3% over the same period. Total market capitalization rose 7.1% to hit EGP 2.8 tn.

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Turnover edged lower even as trading volume climbed: Total value traded on the EGX slipped 2.5% to EGP 1.65 tn in October, despite trading volumes rising to 40.1 bn securities up from 34.3 bn in September. Equities accounted for 8.7% of total turnover, while bonds and bills continued to dominate trading with 91.3% of the market.

Defensives led the rally: Education stocks outperformed with a 19.8% increase last month, followed by building materials (18.6%) and healthcare & pharma (13.1%). On the flipside, energy & support services saw the steepest decline falling 2% followed by trade & distributor names (-1.1%).

Local institutions were the only net buyers in October (excluding block trades), logging EGP 4.9 bn in net inflows. Regional and foreign institutions offloaded EGP 855 mn and EGP 1.4 bn, respectively. On the retail side, local investors sold EGP 2.2 bn, while regional and foreign individuals offloaded EGP 474.6 mn and EGP 5.3 mn, respectively.

Regional peers also ended last month in the green, with TASI up 1.3%, the ADX General Index rising 0.9%, and the DFM General Index advancing 3.8%, according to a Kamco invest report (pdf).

BROKERAGE LEAGUE TABLE-

In October: EFG’s two brokerage arms topped the EGX brokerage league table (pdf) last month with a combined market share of 21.4%, followed by Thndr (9.6%) and Mubasher (8.5%).

YTD, EFG’s two brokerages retained the top spot with a 20.9% market share, beating Thndr (7.7%) and Mubasher (7.1%), according to the bourse’s ranking (pdf) which tracked firms’ performance between January and October.

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