{"id":663808,"date":"2025-04-15T00:00:00","date_gmt":"2025-04-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/15\/egx-defies-regional-slump-but-the-edge-may-be-mechanical\/"},"modified":"2025-04-15T00:00:00","modified_gmt":"2025-04-15T00:00:00","slug":"egx-defies-regional-slump-but-the-edge-may-be-mechanical","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/04\/15\/egx-defies-regional-slump-but-the-edge-may-be-mechanical\/","title":{"rendered":"EGX defies regional slump, but the edge may be mechanical"},"content":{"rendered":"

Egypt appears to be one of the least impacted markets by the Trump-era tariff-driven <\/strong>global volatility amongst its regional peers<\/strong>, with the EGX30 up 4.9% YTD. That\u2019s in sharp contrast to regional peers, with Saudi Arabia\u2019s down Tadawul -3.7% over 2025, the DFM at -3.4%, and the ADX inching into the red at -0.02%.<\/p>\n

The EGX30 is also faring a whole let better than some of the markets that wrapped up <\/strong>2024 with record gains<\/strong>, including the S&P 500, which is now down -8.1% YTD. BTC investors can also dream of the returns. Even BTC, which closed out 2024 with a staggering 121.3% YTD gain, is being left in the dust by the EGX30 this time round, with the cryptocurrency having fallen 9.5% since January.<\/p>\n

While that\u2019s undoubtedly positive for the EGX, the comparison between the EGX and <\/strong>GCC indexes doesn\u2019t paint the full picture. <\/strong>The divergence has more to do with structural differences than market outperformance in the traditional sense. As we explain below, the unique mechanics of the EGX helped it emerge a winner by virtue of its structure, not necessarily market fundamentals.<\/p>\n

The EGX\u2019s relative resilience is largely a function of its investor base. <\/strong>Trading activity remains dominated by local, retail investors \u2014 for example, 80.9% of trading activity was done by retail investors and 90.5% by local investors during trading yesterday. These investors tend to be more reactive to local cues and sentiment-driven triggers, such as the recent reaffirmation of Egypt\u2019s commitment to a flexible FX regime<\/a>.<\/p>\n

This means that any sell-off is less likely to spiral<\/strong>, because retail traders account for the lion\u2019s share of turnover in Egypt, 3 Way Securities Chair Rania Jacoub told us last week<\/a>. Retail investors tend to be more speculative, and this behavior could underpin a near-term correction rather than a sustained downturn.<\/p>\n

In contrast, regional peers like the Tadawul and UAE markets are more exposed to <\/strong>global investor flows.<\/strong> Foreign investors were net sellers<\/a> on the Tadawul last week, offloading SAR 2.2 bn worth of equities, while local investors bought SAR 2.3 bn. Non-Arab foreigners accounted for 44.5% of turnover on the ADX and 40.9% on the DFM last week.<\/p>\n

The EGX\u2019s relatively low liquidity and smaller size also mean it responds more sharply <\/strong>to modest inflows<\/strong> \u2014 especially when there\u2019s a local policy trigger. Case in point: Tadawul closed yesterday with a turnover of SAR 6.5 bn \u2014 23x the EGX\u2019s 90-day average.<\/p>\n

Crude overhang is also weighing on Gulf markets<\/strong>, as weakness in crude continues to pressure sentiment and the earnings outlook for Gulf corporates, especially state-linked and large-cap names. This pressure is reflected in YTD performances of important market constituents, including Aramco \u2014 the Tadawul\u2019s heavyweight \u2014 which is down -7.5%, the DFM-listed DEWA in the red -10.3%, and Abu Dhabi\u2019s Taqa at -2.2%.<\/p>\n

MARKETS THIS MORNING-<\/p>\n

Asian markets are mixed this morning <\/strong>following a tech rally in US markets, with Japan\u2019s Nikkei up 1%, and Hang Seng (Hong Kong) virtually unchanged, while Shanghai Composite is inching down 0.4%. Meanwhile, Wall Street futures are pointing to marginal losses when markets open.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30<\/strong><\/p>\n<\/td>\n

\n

31,182<\/p>\n<\/td>\n

\n

+0.02% (YTD: +4.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 50.93<\/p>\n<\/td>\n

\n

Sell 51.07<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CIB<\/strong>) <\/strong><\/p>\n<\/td>\n

\n

Buy 50.95<\/p>\n<\/td>\n

\n

Sell 51.05<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates (CBE)<\/strong><\/p>\n<\/td>\n

\n

27.25% deposit<\/p>\n<\/td>\n

\n

28.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

11,597<\/p>\n<\/td>\n

\n

+0.04% (YTD: -3.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

9237<\/p>\n<\/td>\n

\n

+0.9% (YTD: -1.9%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

5056<\/p>\n<\/td>\n

\n

+1.8% (YTD: -2.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

5406<\/p>\n<\/td>\n

\n

+0.8% (YTD: -8.1%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

8134<\/p>\n<\/td>\n

\n

+2.1% (YTD: -0.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Euro Stoxx 50<\/strong><\/p>\n<\/td>\n

\n

4911<\/p>\n<\/td>\n

\n

+2.6% (YTD: +0.3%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong> <\/p>\n<\/td>\n

\n

USD 64.88<\/p>\n<\/td>\n

\n

+0.8%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas (Nymex)<\/strong><\/p>\n<\/td>\n

\n

USD 3.34<\/p>\n<\/td>\n

\n

+0.5%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 3226.30<\/p>\n<\/td>\n

\n

-0.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 84,643.40<\/p>\n<\/td>\n

\n

+1.7% (YTD: -9.5%)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/p>\n

The EGX30 rose 0.02% at today\u2019s close<\/strong> on turnover of EGP 4.4 bn (22.2% above the 90-day average). Regional investors were the sole net sellers. The index is up 4.9% YTD.<\/p>\n

In the green: <\/strong>GB Corp (+8.5%), Juhayna (+4.1%), and Qalaa Holdings (+3.6%).<\/p>\n

In the red: <\/strong>Eastern Company (-2.4%), Credit Agricole (-2.4%), and CIB (-1.7%).<\/p>\n

CORPORATE ACTIONS-<\/p>\n

#1- Madinet Masr has purchased 42.7 mn shares \u2014 around 2% of its capital<\/strong> \u2014 as part of a treasury stock buyback program approved by its board on 6 March, the company said in a statement (<\/a>pdf)<\/a> from the real estate company. The total program aims to buy back up to 4% of the company\u2019s total capital (around 85.4 mn shares) through open market transactions.<\/p>\n

#2- Fintech giant Fawry transferred the ownership of 750k shares worth EGP 3.4 mn <\/strong>under its employee incentive and reward program<\/strong>, according to an <\/p>\n

bulletin (pdf)<\/a> on the EGX.<\/p>\n","protected":false},"excerpt":{"rendered":"

Some 81% of EGX\u2019s investor base is made up of retail investors<\/p>\n","protected":false},"author":1,"featured_media":663809,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[581,102,12148,68,72,119,122,1134],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-663808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-planet-finance","tag-adx","tag-capital-markets","tag-dubai-financial-market","tag-egx","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-tadawul","wpautop","entry"],"acf":{"mongo_id":"d93277fa-bbe6-467b-9d29-5e349717319e","order":"13","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/4\/855.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGX defies regional slump, but the edge may be mechanical","related_issue":[663785],"teaser":"Some 81% of EGX\u2019s investor base is made up of retail investors","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/4\/.fb4e4131-c8f4-4d8a-92e0-b99987dcc947.mp3"},"yoast_head":"\nEGX defies regional slump, but the edge may be mechanical - 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The funding round was led by Silicon Valley-based VC firm Andreessen Horowitz General Partner Andrew Chen, along\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":577904,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/08\/what-the-markets-are-doing-on-thursday-8-december\/","url_meta":{"origin":663808,"position":1},"title":"What the markets are doing on Thursday, 8 December","author":"enterpriseam admin","date":"8 December 2022","format":false,"excerpt":"THE CLOSING BELL- The EGX30 rose 2.0% at yesterday\u2019s close on turnover of EGP 3.2 bn. Foreign investors were net sellers. The index is up 23.8% YTD. In the green: EFG Hermes (+6.8%), Talaat Moustafa Holding (+6.1%) and Qalaa Holding (+5.9%). In the red: Rameda Pharma (-4.8%), Egypt Kuwait Holding-EGP\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/163.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577183,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/13\/pif-sells-10-of-tadawul\/","url_meta":{"origin":663808,"position":2},"title":"PIF sells 10% of Tadawul","author":"enterpriseam admin","date":"13 November 2022","format":false,"excerpt":"PIF sells 10% in Tadawul Group through accelerated bookbuild: Saudi Arabia\u2019s sovereign wealth fund, the Public Investment Fund (PIF), successfully sold on Friday a 10% stake in Tadawul Group, via an accelerated bookbuild, according to a regulatory filing (pdf). The 12 mn shares were sold at SAR 191 apiece, 8.9%\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568382,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/28\/what-the-markets-are-doing-on-27-december-2020-2\/","url_meta":{"origin":663808,"position":3},"title":"What the markets are doing on 27 December 2020","author":"enterpriseam admin","date":"28 December 2020","format":false,"excerpt":"The EGX30 fell 0.9% yesterday on turnover of EGP 808 mn (40.1% below the 90-day average). Foreign investors were net sellers. The index is down 24.2% YTD.In the green: Dice (+4.7%), Cleopatra Hospital (+4.0%) and Ezz Steel (+3.5%).In the red: Beltone Financial Holding (-3.2%), GB Auto (-3.1%) and Palm Hills\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562618,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/31\/what-the-markets-are-doing-on-31-may-2021\/","url_meta":{"origin":663808,"position":4},"title":"What the markets are doing on 31 May 2021","author":"enterpriseam admin","date":"31 May 2021","format":false,"excerpt":"US regulators are continuing to make vague statements about maybe doing something to temper the madness in the crypto markets: US regulators may be about to put a leash on your doges, according to this front page story in the Financial Times, which may be overreaching slightly with its headline.\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568452,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/30\/what-the-markets-are-doing-on-30-december-2020\/","url_meta":{"origin":663808,"position":5},"title":"What the markets are doing on 30 December 2020","author":"enterpriseam admin","date":"30 December 2020","format":false,"excerpt":"The EGX30 rose 0.7% yesterday on turnover of EGP 1.2 bn (10.7% below the 90-day average). The index is down 23.1% YTD.In the green: Ezz Steel (+5.9%), GB Auto (+5.1%) and Sidi Kerir Petrochemicals (+5.0%).In the red: Dice (-2.5%), Orascom Investment Holding (-0.7%) and Sodic (-0.5%).Globally, it\u2019s a mixed bag\u2026","rel":"","context":"In "PLANET FINANCE"","block_context":{"text":"PLANET FINANCE","link":"https:\/\/enterpriseam.com\/egypt\/planet-finance\/\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/663808","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=663808"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/663808\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/663785"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/663809"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=663808"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=663808"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=663808"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=663808"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=663808"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}