A group rise in the shares of the productive sectors leads the Egyptian Stock Exchange to achieve strong gains

The Egyptian Stock Exchange witnessed a remarkable rise during today’s trading in a number of leadership and medium stocks, amid studied purchasing moves from local investors and institutions, in conjunction with a relative calm in regional financial markets, and the issuance of a number of economic data supporting local investment.

The list of the highest shares topped, five companies whose activities varied between logistical services and heavy and pharmaceutical industries, reflecting the diversity of the driving forces of the market.

General for silos and storage

The general share of silos and storage came at the top of the higher stocks, after he jumped by 13% to close at the level of 249.88 pounds, compared to an opening price of 221.14 pounds.

This strong rise reflects the interest of investors in the defensive stocks, especially in light of the positive expectations for the logistical services sector and supply chains in Egypt.

Some analysts attribute this strong performance to expectations of increasing the company’s activity as a result of expected expansion in strategic stores, especially in light of the state’s plans to enhance food security.

Egypt National Steel – Ataka

Egypt National Steel – Ataqa ranked second in the upcoming list, up 7.91% to close at 10.09 pounds, compared to an opening price at 9.35 pounds.

This rise comes in conjunction with indicators of increased demand in the local and Arab market on iron and steel products, driven by the activity of infrastructure and real estate sectors.

Iron and steel for mines

Iron and steel arrow for mines and quarries ranked third, raising by 6.93% to close at 5.71 pounds, and this rise reflects the continuation of the market’s orientation towards the shares of companies associated with basic materials, amid anticipation of the high prices of raw materials globally, including iron and coal ore.

Lisico Egypt

Lesiko Egypt also increased by 6.34% to close at 24.66 pounds, compared to the opening price of 23.19 pounds, and the stock works within the heavy industries sector, and it has benefited from positive moves in the sector’s shares during the past weeks with the support of improved operational performance and increased production efficiency.

Mina Farm Medicines

In fifth place, the share of Mina Farm for Medicines and Chemical Industries came up by 5.85% to close at 249.99 pounds, compared to the opening price of 236.18 pounds, and this strong performance comes at a time when the drug sector shares are witnessing relative stability, indicating a relative superiority of the stock in attracting liquidity.

Analytical reading

The general performance of the market today shows a tendency towards diversity in investment decisions, with a focus on the defensive sectors related to infrastructure and biological industries, and this trend reflects the vision of investors with the need to distribute risks and exploit opportunities related to local economic growth.

Dealers in the market are awaiting new decisions from major banks regarding interest rates on certificates, in light of the recent central bank’s decision to reduce interest rates by 1%, and these moves may cast a shadow on the stock exchange in the upcoming sessions, while continuing to focus on shares with good distributions and attractive fair values.