Earnings of the sectors of the Egyptian Stock Exchange 2021. These are the most important expectations

The head of the financial advisory firm Al-Awael, Wael Enaba, said that the Egyptian stock market index has been trading around the 12,000 point level since the beginning of questyear, up or down.

In an interview with Al-Arabiya, Enaba added that the 12,000-point level was the Egyptian market’s high in 2008, when stock prices were at historic levels.

Enaba pointed out that despite having reached the level of 18,000 points in 2018, it is not the real top of the market.

He explained that the market is in waiting if quest’area will be crossed or not, noting that the trading it is so far weak.

Enaba revealed that the market is in waiting for incentives to support the trend of the main index to exceed these levels, expecting that the announcement of the results of the main companies next February will contribute to exceeding the level of 12 thousand points of the index.

He pointed out that most companies experienced growth in 2021, compared to the results of 2020, affected by the pandemic.

Enaba predicted that the banking and telecommunications sectors would achieve the highest profits for fiscal year 2021.

He pointed out that the banking sector recorded strong profits in the first nine months of 2021, led by Commercial International Bank.

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