تراجعات حادة في بورصة مصر.. هل هي نهاية الارتفاعات القياسية؟
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00:00 High interest rates and high sales target the leading shares.
00:05 This is how the performance of the Egyptian stock market came during the last week's transactions
00:09 after achieving its indicators of record earnings for about two years.
00:14 Its peak was a few days after the decision to release the exchange rate,
00:18 where the situation changed and the performance was reversed as a result of a group of factors,
00:23 mainly the profit margin and a selling wave led by local institutions in most of the sessions.
00:28 The black market lost the biggest share of the earnings in the past months.
00:32 When we calculated the value of weekly currencies,
00:35 we found that 97% of the shares were traded by the institutions and only 3% were traded by the shares.
00:40 This does not give the opportunity to maintain the indicators in the green zone
00:44 and gives sales pressure by very strong institutions on the performance of the market.
00:48 So, the interest rates are raised not by individual users.
00:52 This is in addition to the many failures that the stock market has been facing recently.
00:58 We are talking about failures in the market in the market of marketing,
01:03 and about the disruption of the information systems.
01:07 The prices of the shares have risen due to the fluctuations of the currency,
01:10 and the distribution has not been satisfactory and the liquidity is weak,
01:14 in addition to the exit of some of the shares from the market
01:17 and the direction of less risky investment opportunities,
01:20 such as bank certificates and government debt tools.
01:23 The new class of exchanges with the stock market is treated as a value trap,
01:27 not a trading platform.
01:29 All factors have come together and contributed to the performance improvement during the current period.
01:34 No matter how much the return is, it will not be equal to the return from the bank as a result of the deposit.
01:39 This was reflected when the banks were giving 10% and 12%.
01:43 We said that this company is giving a return of, for example, even if it is 8%,
01:47 the share profits that come as a result of the rise in the shares compensate for the difference.
01:53 But when there is 30%, there are no shares in the market that bring 30%.
01:57 Therefore, the account has changed, and the only thing that determines the price of the shares is the dollar.
02:05 The dollar is the exchange rate, and now it is the one that controls the market,
02:09 whether it is rising or falling.
02:11 This is the return of the earnings of the Egyptian stock market indicators over the year,
02:15 from a ratio of more than 30% to the level of the dollar,
02:18 to live at levels below 7%.
02:21 The investor is confused with the fluctuation of the Egyptian stock market indicators,
02:25 sometimes the relative highs tempt him, and other times the violent declines make him down.
02:31 In the hope of stabilizing the situation and the creation of new products that increase the size of the exchange,
02:37 and attract new customers.
02:41 Farouk Youssef, CNBC Arabia, Cairo.