The standout move on the Egyptian stock exchange today did not come from the property names that had already dominated recent headlines, but from Societe Arabe Internationale de Banque, whose shares surged 19.9% to EGP 2.53. The jump came in a strongly directional session for Cairo equities, with the EGX 30 index rising 2.68% to 52,502.7 points, while market breadth finished at 30 gainers, 11 losers and 3 unchanged out of 44 tracked stocks.
That combination matters because it brought together three forces that do not always align on the same day: a sharp rebound in bank shares, a softer dollar at EGP 48.75, and broader risk appetite across Egyptian equities. In a market where currency moves have shaped almost every serious valuation discussion since the devaluations of 2022-2024, a local-currency rally carries more weight when the dollar itself is down 0.64% against the pound.
Key figures
- SAIB +19.9% to EGP 2.53
- EGX 30 +2.68% to 52,502.7
- 30 advancers / 11 decliners / 3 unchanged
- Commercial International Bank turnover: EGP 710.3 million