The Clap
Almost all EGX indices increased in August 2022, gaining EGP 51.8 billion.
The Deets
In August, the EGX30 index rose by 5.61%, closing at 9,998 points, ever so close to breaking the 10,000 points barrier.
During the same period, the EGX market cap reached EGP 685 billion, an 8.18% increase from the beginning of the month.
Why this Matters
August saw many factors that affected the performance of the EGX.
One of these factors was the acquisition of large number of shares in companies by Gulf Sovereign Funds.
August also saw many major changes in leadership, such as the Chairman of the FRA, the CBE Governor, and the Chairman of the EGX.
August proved to be a good month for the EGX 👍
