EGX 30 rises 2.24% as Valu and Elsewedy drive momentum

The EGX 30 closed up 2.2357% at 53,055.0 points on October 1, after a 0.77% decline a day earlier cited in an analyst report. Valu completed its 23rd securitized bond issuance worth EGP 945.8 million, according to الاقتصادي نيوز, adding fresh support to structured finance activity. Elsewedy Electric stayed in focus after the stock's rise lifted Ahmed Elsewedy's wealth by $174 million in the third quarter, billionaires.africa reported. Abu Qir Fertilizers and Chemical Industries also posted first-half profit growth, according to ad-hoc-news.de, extending firmer momentum in industrial blue chips.