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The EGX 30 is an Egyptian stock market index that tracks the performance of the top 30 companies in terms of trading activity and liquidity on the Egyptian Exchange. Formerly called the CASE 30 index, the EGX 30 provides a reliable indicator as to the strength of the Egyptian economy.
On this page you’ll find a brief summary of the EGX 30’s history, an explanation as to how the companies whose stocks are tracked are selected, and information as to how you can invest in the EGX 30.
The EGX 30 started life on 1st January 1998. It was originally called the CASE 30, which stood for ‘Cairo & Alexandria Stock Exchange.’ Today this is known as the Egyptian Exchange, and the CASE 30 was renamed the EGX 30 in March 2009.
The index started with a base value of 1,000 index points at the beginning of 1998, and to date reached its highest level of 18,363.29 on 26th March 2018.
One of the rockiest weeks it has had while tracking the EGX was during the Egyptian Revolution of 2011. In late January 2011 teh EGX was forced to halt all trading after the EGX 30 had fallen 16% in a single week during the uprising.
To be listed on the EGX 30 index, a company must be among the top 30 listings on the Egyptian Exchange in terms of both liquidity and trading activity. Companies must also have at least 15% free float in order to make sure that the EGX 30 represents stocks which are regularly traded and therefore gives an accurate indication of the health of the Egyptian economy.
In order to invest in the EGX 30 index, the best option is to use an exchange-traded fund (ETF). Other options available include mutual funds and buying stocks in the 30 companies tracked by the EGX 30, but with an ETF you can invest in a product that tracks the performance of the EGX 30 index, while still being able to trade your investment freely on an exchange.
With an ETF, investors have both flexibility and diversification, which is why they have proved so popular in recent years.