The standout move on the Egyptian stock exchange today came from Palm Hills Developments, whose shares jumped 8.3% to EGP 15.71 on EGP 817.5 million in turnover, the heaviest cash volume among the stocks provided. That surge helped power a broader rebound across Cairo, with the EGX 30 index rising 2.31% to 51,994.6 points as risk appetite improved sharply.
This was not a narrow, index-heavy rally. Market breadth was decisively positive, with 37 gainers, 6 losers and 1 unchanged out of 44 tracked names. That matters because it shows buying was spread across sectors rather than driven by only one or two heavyweight constituents. Based on the session data, flows clustered around real estate, financials and selected consumer names, while fertilizers and oil-related stocks lagged.
Key figures
- Palm Hills Developments: +8.3% at EGP 15.71
- PHDC turnover: EGP 817.5m
- EGX 30: +2.31% at 51,994.6
- Market breadth: 37 up / 6 down / 1 unchanged
- USD/EGP: 51.1, down 1.65%