Analysts revealed that there are 4 major investment destinations for Egyptians during the current year 2023 especially after the dollarization process has calmed down and the speculations that were taking place in the foreign exchange market and the price gap between Dollar exchange rates between the official and the parallel market, which had all but stopped working in recent days, have shrunk.
However, despite the uncertainty that has faced the global economy and investment activity globally since the start of the Russian war in Ukraine, through the wave of global inflation and the chaos of supply chains, there remain 4 destinations of attractive investments for the Egyptians, which are gold, real estate, the Egyptian stock exchange and finally the high-yield investment certificates that go up to 25% recently raised by the banks.
As regards the operations of the Egyptian Stock Exchange, since the last session of March 18, ie Before the movements of the Central Bank of Egypt To control the foreign exchange market, the market capitalization of listed companies’ shares jumped 55%, gaining about 366.3 billion pounds, after the market capital jumped from the level of 666.7 billion pounds, to £1.033 trillion level at close of trading last Thursday.
In terms of indices, the main index “EGX30” rose by 46.5%, adding about 5084 points, after jumping from the level of 10918 points to the level of 16002 points at the close of trading last Thursday. The “EGX50” index also rose by 30.5%, adding about 649 points, after falling from the level of 2123 points to about 2772 points. The “EGX30 Weighted Index” jumped by 46.5%, gaining about 6166 points, after falling from the level of 13250 points to 19416 points.
The “EGX30 total return” index increased by 56.5%, gaining about 2378 points, going from 4204 points to about 6582 points. The index of small and medium enterprises, “EGX 70 of equal weight”, rose by 40.5%, adding about 843 points, after rising from the level of 2078 points to about 2921 points. The broader index, “EGX 100 equal weights,” jumped 43.3%, adding about 1321 points, after rising from the 3047 point level to about 4368 points.
Certify 25% Faster Earnings
Economic analyst and head of the Cairo Center for Economic and Strategic Studies Dr. Khaled El-Shafei believes that the investment certificates recently offered by banks with an annual return of 25% are considered one of the most important investment methods that get quick earnings and contain no risk.
In his interview with Al-Arabiya, he pointed out that the certificates are currently the most important investment destinations and have been able to raise more than 90 billion pounds in just a few days.
He stressed that, on the other hand, investing in the stock market requires the client to understand the nature of investing in financial markets, even though it is one of the most important investment destinations in Egypt in the coming period.
As for gold, it is the most appropriate at the moment, especially since it has posted huge gains and without any risk during the past year, but it must be an investment for longer periods, as the market is characterized by stability and has reached record returns during the last period.
As far as real estate is concerned, and in the light of the presence of the real estate tax and the tax on real estate disposals for a value of 2.5%, only those who need real estate, and also need skills, will resort to this market , but there is a large segment among Egyptians who prefer to invest in real estate due to its stability and absence of registration losses.
While the financial analyst, Nadi Azzam believes that the Egyptian Stock Exchange is the most important and the best investment destination in the coming period, especially since all the indicators and data confirm the market rally in 2023. He pointed out that the Egyptian Stock Exchange achieved huge gains despite the suspension of the government bidding program, but in case once the program is implemented, the Egyptian Stock Exchange will be one of the most important investment destination that will get huge returns on investment.
Gold earnings exceed 100% in 2022
As for the precious metal, in terms of transactions last year, the price of an ounce of 14-karat gold rose by 109%, adding about £579, after its price jumped from the £531 level to start of last year’s trading, to the £1110 level at the end of last year’s trading.
The price of an ounce of 18-karat gold also jumped 98%, adding about £671, after its price jumped from £682 at the start of last year’s trading, to £1363 at the end. of last year. business. In addition, the price of one gram of 21-karat gold, which is the most traded in the Egyptian market, rose by 100%, adding about £795, after its price jumped from £795 at the start of the trade. last year, to the level of £1590 at the end of last year’s trading.
The price of an ounce of 24-karat gold rose by 100.8%, adding about £912, after its price jumped from £905 at the start of last year’s trading, to £1817 on the day. end of negotiations last year . The price of the gold pound jumped 98.6%, adding about £6270, after its price jumped from the £6360 level at the start of last year’s trading, to the £12630 level at the end of trading. of last year.
