Breaking several records, 2024 saw EGX indices hit new all-time highs. On March 11, 2024, the EGX30, the main benchmark index, closed at a record 33,382 points.

The Egyptian Exchange (EGX) reported a year of remarkable milestones in 2024, with significant improvements across key indicators, trading volumes, and market capitalization, according to Ahmed El-Sheikh, Chairman of the EGX.

The Shariah Index (EGX33) followed suit, achieving its highest closing of 3,279 points on November 11, 2024. The EGX70-EWI index set its own record on December 15, 2024, closing at 8,614 points, while the EGX100-EWI index reached its peak of 11,800 points on December 8, 2024.

In a recent press conference, El-Sheikh highlighted that 2024 witnessed unprecedented numbers, with several indices reaching historic highs, marking the year as one of the most successful in the exchange’s history.

The year also saw the largest number of listings in a single year, with 11 new companies joining the exchange, El-Sheikh explained. Additionally, one company resulting from a split brought the total to 12 new listings in 2024.

The EGX also saw 5 companies transition from the small and medium enterprises market to the main market, reflecting the growth and dynamism in Egypt’s corporate sector.

2024 also marked the first bank listing in nearly two decades, with the United Bank successfully listed on the EGX.

One of the standout achievements for 2024 was the record-breaking market capitalization. On December 8, 2024, the EGX reached its highest-ever market capitalization of LE 2.29 trillion. The year also saw the largest increase in market capitalization in a single year, with a rise of LE 450 billion, marking a 26.2 percent increase from the beginning of the year.

In terms of trading volumes, 2024 set multiple records. The total value of transactions across all listed securities (including deals) surpassed the LE 1 trillion mark for the first time, showing an increase of approximately 65 percent compared to the previous year. The total trading volume reached approximately 267 billion securities.

Daily trading also saw significant records, with July 10, 2024, witnessing the highest daily trading value for listed stocks (including deals) at LE 24.5 billion. Treasury bonds achieved their highest daily trading value of LE 131.3 billion on December 31, 2024, while Treasury bills reached LE 260.1 billion on March 19, 2024. Non-listed securities saw their highest daily trading value on August 29, 2024, with LE 16.4 billion.

Regarding trading volumes, the highest daily volume of traded listed stocks was 4.6 billion securities on April 18, 2024. Treasury bonds saw the highest daily trading volume of 168.2 million securities on December 31, 2024, while Treasury bills recorded their highest volume of 12.2 million securities on March 19, 2024. Non-listed securities reached their peak volume on October 31, 2024, with 1.27 billion securities traded.

A significant proportion of new individual investors were in the 18-30 age group, which accounted for 55.3 percent of the new registrations. The 18-45 age group made up a total of 87.8 percent of all new investors. This demographic shift indicates a growing interest in the Egyptian stock market among younger investors.

In a move to enhance market offerings, the EGX launched the Shariah index (EGX33) for the first time, and three investment funds were created to track the index. Additionally, the EGX introduced an Investor Relations Register, which saw the enrollment of 290 qualified officials.

Looking ahead, El-Sheikh outlined several key priorities for the EGX. These include continuing to offer programs aimed at improving the efficiency of market participants, maintaining effective communication with brokerage firms and market stakeholders to address their needs, and implementing a new trading system in collaboration with Nasdaq.

The exchange is also focused on listing and offering securities from large private-sector companies, alongside upcoming government offerings, with a particular emphasis on improving the quality of listed securities through enhanced disclosure standards and compliance with listing rules.

El-Sheikh also emphasized the EGX’s commitment to diversifying its financial instruments, including carbon certificates, renewable energy certificates, financial derivatives, exchange-traded funds (ETFs), and real estate index funds.

 

 

 

 

 

 

Egypt Today