A stock priced at 1.99 EGP stole the spotlight from Egypt’s heavyweight blue chips on Thursday. Dice Sport & Casual Wear surged 6.4%, the strongest gain on the board, while the EGX 30 index rose 1.00% to 49,078.6 points. In a session where 23 stocks advanced against 17 decliners, the move said more than a routine rebound: it pointed to a selective return of appetite for growth and transformation stories across the Egyptian stock exchange today.
The macro backdrop mattered. The USD/EGP fell 2.95% to 53.04, easing — at least for one session — the currency pressure that has dominated Egypt equity pricing since the devaluations of 2022 to 2024. For foreign investors, a 1.00% rise in the benchmark alongside a firmer pound is materially different from a nominal EGP gain alone. In dollar terms, Egyptian equities look less defensive and more investable when FX stops working against returns.
Key figures
- EGX 30: 49,078.6 points, up 1.00%
- DSCW: +6.4% at 1.99 EGP
- USD/EGP: 53.04, down 2.95%
- Telecom Egypt: +3.2% at 93.9 EGP
- Fawry: -1.1% at 18.5 EGP on 244.5 million EGP turnover