Egypt’s benchmark EGX30 index ended the fourth week of 2026 higher, gaining 2.85 percent to close at 47,785.93 points, even as broader market segments, including small and mid-cap stocks, experienced declines.
Data from the Egyptian Exchange (EGX) show that the EGX70 equal-weight index, tracking small and mid-cap shares, fell 4.97 percent to 12,149.57 points. The broader EGX100 equal-weight index also slipped 2.83 percent to 16,827.71 points, indicating a divergence between large-cap performance and smaller stock segments. The EGX30 Capped index rose 2.36 percent to 57,223.15 points, while the Tamayoz index, which tracks select growth-focused shares, declined 4.29 percent to 19,202.94 points.
“The market continues to favor large-cap, blue-chip stocks,” said Ahmed El-Maghrabi, a Cairo-based market analyst. “Smaller companies are seeing weaker interest, reflecting liquidity concerns and investor caution.”
Market Capitalisation and Turnover
Total market capitalisation rose slightly over the week to LE3.158 trillion (US$102.2 billion). The EGX30’s market value grew from LE1.778 trillion (US57.5 billion) to LE1.819 trillion (US$58.8 billion), while small and mid-cap stocks fell from LE732.4 billion (US$23.7 billion) to LE709.1 billion (US$22.9 billion).
Weekly trading turnover across the EGX reached LE456.8 billion (US$14.8 billion), with roughly 7.628 billion securities changing hands in 642,000 transactions. Bonds and treasury bills dominated trading, accounting for 93.12 percent of total value, while equities represented just 6.88 percent of activity, highlighting ongoing investor preference for fixed-income assets.
Within equities, total traded value was approximately US$498 million on EGX30 shares, US$249 million on EGX70, and $747 million on EGX100 constituents, according to the weekly breakdown. Analysts noted that mid-cap rotation and sector-specific trades drove higher activity in the EGX100.
Sector Trends and Investor Sentiment
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Large-cap stocks, particularly in financials and energy, led the EGX30’s gains, while industrial and smaller growth-focused companies weighed on the EGX70 and Tamayoz indices. Market analysts pointed to institutional investor dominance in blue chips and cautious retail participation in smaller stocks as a key factor behind the divergence.
“The focus on liquid, established companies reflects a preference for stability and predictable returns,” said El-Maghrabi. “The strong bond market turnover also shows that investors are relying on fixed-income instruments for yield in a stable interest rate environment.”
The performance gap between large caps and smaller stocks may also be influenced by macroeconomic expectations, including upcoming corporate earnings, government bond issuances, and potential policy signals.
Looking forward, analysts expect the EGX30 to maintain momentum, while small and mid-cap shares could remain under pressure until clearer earnings reports and liquidity signals emerge. Sector rotation, selective equity buying, and continued demand for bonds are likely to shape market activity in the near term.
Overall, week four of 2026 highlighted a dual narrative for Egypt’s stock market: robust gains in large-cap equities driving benchmark momentum, contrasted with weaker performance in smaller companies, and a continued emphasis on fixed-income instruments driving the bulk of trading activity.
