The index returned to rise, surpassing the historical peak it achieved in 2018, which is 18,000 points. During the beginning of this week’s sessions, it was able to rise above 18,500 points. Will it continue to rise or will it return to its lowest point?
Hanan Ramses, a financial market expert, said that it will continue to rise, provided that it trades higher than 19,000 points starting from September. Because of Egypt’s invitation to join the global economic bloc BRICS, which will have a positive impact on the relief of the economic crisis.
The expert explained in a special statement to “Al-Fajr” that the return of cash flows and the depth of economic cooperation and trade exchange between member states, which represents more than 30% of the size of the global economy, and more than 65% of the population density, will provide an opportunity to open new markets and expected trade exchange. Institutions of different nationalities have formed purchasing positions in many stocks distributed on the indices, and there is a resurgence in talking about completing deals in the Egyptian Stock Exchange.
Including talking about the request for the acquisition of two companies working in the field of tobacco and cigarettes to submit an offer to acquire 30% of the share of the Holding Company in Eastern Tobacco
She added that it is expected to add 700 million dollars after the completion of the deal, which the state will use to fulfill its urgent obligations, and that the markets are flourishing with the presence of a new leadership.
This is after Ahmed Abdel Rahman was assigned as the head of the Stock Exchange for a year, succeeding Ramy El-Dukkany, and it was the year of succession to the position. Therefore, it is considered a year of promoting the Stock Exchange, increasing the number of coders and dealers, promoting the Stock Exchange globally and regionally, and many positive events that took place and are expected to be completed, and he is the one who gave the positive point of view In the Egyptian Stock Exchange, in addition to international reports, which favored investing in the Egyptian Stock Exchange specifically, due to inflation and the depreciation of the purchasing value of the pound.