Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

The Gulf Stock Exchanges and Egypt are heading for new gains .. The highly anticipated IPOs are the password


Mary B
 Share

Recommended Posts

 

The Gulf Stock Exchanges and Egypt are heading for new gains .. The highly anticipated IPOs are the password

The Gulf Stock Exchanges and Egypt are heading for new gains .. The highly anticipated IPOs are the password
Investors in front of the trading screen in the Abu Dhabi market
 October 10, 2020 10:32 AM

Mubasher - Mahmoud Gamal: Stock markets in the Gulf and Egypt are preparing for a new week of rise amid the return of investor optimism, coinciding with the presence of 4 factors that are led by the approaching announcement of new government proposals, and news about setting the date for the launch of the Corona vaccine, and the recording of global and oil exchanges for major gains that they have not achieved for nearly a month And this after the stability of the health of US President Donald Trump, according to analysts.

Optimism swept the Gulf markets and Egypt, whose index approached levels that predicted a further rise, which is at 11300 points, with the spread of news of ministers opening the trading session and speculation about announcing proposals in the banking sector soon.

The rise in the region's markets came as a result of the significant improvement in global financial markets, which returned to the path of gains after the improvement of the health of US President Donald Trump, who was recently infected with the Corona virus. The news of Trump's health recovery was not reflected positively on stocks only, as it extended to the oil market, which also returned to exceed the level of $ 43 per barrel.

Also, global markets are on the way up now, after the US President, Donald Trump, revealed the date for the release of the expected American Corona vaccine, which will be available before or immediately after the presidential elections. ”The presidential elections in the United States will be held on November 3, and voting has begun Already early in several states.

Investor trends

Mona Mostafa, technical stock analyst and trading manager at Arabiya Online, told Mubasher that the markets in the Gulf region began to breathe a sigh of relief after the drop they suffered last week, with investors turning their attention to following up on the health condition of the American president who was infected with the Coronavirus, in addition to For changes to the political leadership in Kuwait with the installation of a new emir of the country after the death of the former emir.

She pointed out that the Egyptian Stock Exchange is still the only stock exchange in the region that tweets out of the flock, as it is witnessing selective buying of major stocks in light of their presence at attractive levels and a shift in the perception of the market as one of the most attractive markets for investors, with some gaining more than 500% of the capital.

She emphasized that the outlook for the markets in the region will continue to be linked to the performance of global markets, noting that the Egyptian Stock Exchange will be different in the coming period in the event of government offerings and amid the unparalleled demand that we are currently witnessing for stocks compared to what it was during the crisis.

21179977_AR_1602314025_gas.jpg

Booster oil

Shareef Hussein, a financial market expert, told "Mubasher" that financial markets in the region will remain on an upward path as long as oil is above $ 40 a barrel, especially the Saudi market, which we expected to decline last week.

He pointed out that, technically, with regard to the Egyptian market index, we expect to continue its rise during the next week, after its success in reaching the levels of 11,300 points and exceeding 11,200 points, which predicts that it will reach levels that may exceed 11,500 points during that period.
Crossroads

On the technical side, the head of the business development sector in Pioneers, Mohamed Gaballah, told Mubasher that the Egyptian market index, after penetrating the level of 11200 points and the end of the sideways trend, which lasted for about 18 consecutive sessions, the market is preparing to rise scientifically.

He pointed out that the sideway distance is the target of the market in the event of a breakout, which means that the market is qualified to visit the level of approximately 11600 points.

He pointed out that then the index will be at a crossroads, either to complete the climb, targeting the overall target for the year 2020, which is the level of 12,500 points, or to return from it again to re-test the level of 11200 points again, stressing that the best sectors to invest at the present time are housing, petrochemicals, communications and financial services.

In turn, Ahmed Moati, CEO of VE Markets "Egypt", said to "Mubasher" that the Egyptian Stock Exchange is expected to continue to rise in control of the spread of Corona and that the state will not have to impose new restrictions on the movement of the economy, stressing that among the best stocks to invest currently are Pharmaceutical sector stocks and technology sector stocks.

On the other hand, Mohamed Hassan, managing director of Medaf Asset Management Company, told "Mubasher" that the Egyptian Stock Exchange is considered the most qualified stock exchange in the medium term as the Egyptian economy is eligible for this, especially after the Central Bank announced the reduction of interest on deposit and lending to encourage industries, especially industries. Medium small.

He pointed out that those who reinforce this optimistic view about the Egyptian Stock Exchange are also the official moves to return government proposals again in an attempt to exploit the liquidity currently available in the market, especially after the sale of the Nile Cotton Ginning stock, which may take us to new levels during the last quarter of 2020 in case the health situation stabilizes. In Egypt due to the Corona virus.

21179977_AR_1602314214_gettyimages-10883

Prospects

In turn, Hanan Ramsis, a financial market analyst at the Freedom Securities Brokerage Company, said to "Mubasher" that the Saudi Stock Exchange would lead the gains in the Arab region due to the mechanisms and reforms that the Kingdom undertakes in the capital market, adding that Tadawul seeks to diversify the products it offers to dealers. And raising the percentage of foreign ownership of shares and exempting transactions from any fees or taxes that hinder dealing and suspend transactions that reinforce this optimistic outlook.

It indicated that the value of the trillion market capital allows international companies to trade and enter funds with high financial solvency without fears of violent shocks in the money market.

She added that if the Egyptian Stock Exchange returned to the offering programs, the market capital rose, and the market leaders were able to diversify the products available to the investor and add mechanisms to help the market compete, then that market would be the most prominent in the region.

She explained that the thirtieth index will return to shine again because of the many stocks that have managed, in light of the recent changes, to withstand and achieve fantastic gains, especially the shares of Fawry, around which there is news about the approaching foreign participation.

She said that among the prominent stocks also, which is expected to achieve good gains in the coming period, are the Commercial International Bank, the Financial Group Hermes, and Nasr City shares, pointing out that the news about the Banque du Caire offering is a long-awaited event that will have a major role in increasing momentum in the Egyptian market in the coming period.

On the other hand, Doaa Zidan, Deputy Director of Technical Analysis Department, Tycoon Securities Brokerage Company, expected to "Mubasher" that the Egyptian Stock Exchange would be better than other Arab stock exchanges this week due to the presence of several positive incentives and news supporting the rise of key sectors, the most important of which is the news of the acquisition of a company. Atyab, who will support the food sector, especially poultry stocks, in addition to the opening of the Chairman of the Stock Exchange and a number of ministers for the Sunday session, as a prelude to the offering of Banque du Caire, which will support the banking sector.

She indicated that the Heliopolis Board meeting and the press conference to announce the development plan supports the real estate sector, in addition to the news of reducing the gas, which will support the industrial sector, and the entry of the liquidity of the Nile Cotton Ginning deal in many sectors will support the presence of good liquidity for the market, whose main index after the closure targets the highest level of 11,200 level points. 12,200 points.

Exploiting opportunities

Mina Rafiq, research director at Al-Marwa Securities Brokerage Company, expects to "Mubasher" that the real estate and banking sectors are currently leading the Egyptian market in the current period of rise, after the Nasr City Housing Company announced that local and foreign investors were negotiating to buy large plots of land about 1.9 million Square meters of the company's projects.

He pointed out that this news made the real estate sector the focus of attention of investors and the re-evaluation of the sector companies, and the banking sector also became the focus of attention of investors with the arrival of its share prices to attractive levels and the emergence of economic data confirming the recovery of the activity of the private sector that does not produce oil, and also anticipating the announcement of the offering of Banque du Caire After it was postponed for several times.

He stressed that after these good indicators, the Egyptian stock market in the coming period will become more attractive among the markets, expecting that the main index will exceed the level of 11,500 points, which by penetration targets 11,900 points, pointing out that investors should take advantage of opportunities and select stocks in the sectors that benefit from the stimulus packages and sectors that Are experiencing a rapid recovery after the crisis.

21179977_AR_1602314789_ygy.jpg

Optimism prevails

For his part, Mahmoud Shukri, CEO of AMS Investment Group, confirmed to "Mubasher" that after exposure to profit-taking operations on stocks that made strong gains during the past period, the 30-year index began to return to gains and rise to levels of 11200 points again, which will qualify it in the meantime. The optimism that we see is to retest 12,000 point levels again.
 
Regarding the broader seventieth index, which achieved more than 100% gains in the economically bad year, he explained that he witnessed a severe crisis and a slowdown in the microeconomic and corporate sector indicators, but he was able to reverse this trend, thanks to government support for the money market, to restore confidence and quickly respond to a market that controls By 70% of it individuals.

He pointed out that, of course, individual stocks were responding at a faster pace to this support and the movement of liquidity. The index traded around the historical peak around the pivot point and 2000 levels, which by the index’s stability above it would determine it as support levels for retracement, or breaking it and forming a selling point and profit-taking point, so you need greater momentum To break it and settle over it.

Mohamed Dishnawy, Executive Director of the Roots Securities Brokerage Company, previously said to "Mubasher" that the Egyptian Stock Exchange is already the most in the region that has incentives for the rise and gaining liquidity amid the corona reflections that made emerging markets less attractive than developed markets due to the increased risks at all economic levels other than Geopolitical tensions in the region.

He pointed out that this was reflected in the performance of these markets, as everyone has noticed the strong direct correlation in the decline and the weak soft correlation in the upward movement, both in terms of strength and continuity.

He said that the Egyptian Stock Exchange has not yet been able to promote itself and offer various products in order to attract more confidence of investors, whether individuals or companies, despite the slowdown in the real estate sector strongly.

Nominations

https://www.mubasher.info/news/3705027/بورصات-الخليج-ومصر-تتجه-لحصد-مكاسب-جديدة-والطروحات-المرتقبة-كلمة-السر/

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.