Egypt participates in Ukraine International Travel, Tourism Exhibition    139 Palestinians killed in Israeli strikes on Gaza    Palestinian under attack in 73rd anniversary of Nakba Day    Egypt's Health Ministry launches awareness campaigns against COVID-19    Egypt partakes in drafting OECD Recommendations on AI    Palestine's Telecom Ministry names top social media supportive hashtags for maximum engagement    Egypt fines mobile operators EGP 20m for number portability violations    Sudan pledges to investigate killing of 2 protestors during peaceful sit-in    Grand Egyptian Museum finishes installing Tutankhamun's 3rd shrine    Egypt discovers several ancient tombs in Sohag's Al-Hamdiya necropolis    Egypt scales up readiness of hospitals nationwide for Eid Al-Fitr holidays    Egyptian hospitals in Sinai on alert amid Israeli aggression on Gaza    Egypt announces Thursday 1st day of Eid Al-Fitr    Nuweiba: Egypt's paradise of serenity    Egypt's current account deficit jumps to $7.6 bln in 1H of FY2020/21: CBE    Egypt's trade deficit down 1.2% to $3.34bn in February 2021: CAPMAS    Global economic recovery to improve debt service coverage ratios: Moody's    Egypt's Parliament discusses abolishing imprisonment for female debtors    India signs an agreement to buy 300,000 doses of Remdesivir from Eva Pharma    Egypt will locally manufacture first 2m Sinovac vaccine doses by June-end    2021 South East European Film Festival celebrates cinematic diversity of 18 countries    Turkey seeks to restore 'historic unity' with Egyptian people: Erdogan    Elneny's Arsenal targets 'remontada' in Europa League semi-finals    Zamalek eye return to victories at expense of Smouha in Egyptian Premier League    Al Ahly face injuries as they take on Al Ittihad Alexandria    Egypt buys 30 Rafale fighter jets from France    Direct flights between Russia and Egypt will resume in June, Ambassador    Egypt's Ahly is establishing a new stadium, expected to be 'sports complex'    Blinken presses Ethiopia's Abiy to ensure full withdrawal of Eritrean troops from Tigray    Forces opposed to Somali president control parts of Mogadishu    Nine people executed in Egypt over Kerdasa police killings in 2013    UEFA investigating Ibrahimovic's alleged ties to betting company    61 doctors died from coronavirus since start of April: Egypt's medical syndicate    Egypt targets 5.6% inflation rate in FY2020/21, 6% in FY2021/22    Egypt allocates EGP 132 bln to modernise railway system: Transport minister    Real Madrid not thinking about any Super League sanctions: Zidane    Total declares force majeure on Mozambique LNG after attacks    All the winners at the 93rd Academy Awards    Egypt's Ahly granted approval to build new stadium on Cairo outskirts    Aswan Int'l Women's Film Festival dedicates 5th edition to Kawthar Heikal    BREAKING: Egypt's information minister Osama Heikal resigns amid parliamentary criticism    'War was not Egypt's aim, but peace was the ultimate goal,' Sisi says on Sinai Liberation Day anniversary    Factbox: Key nominations for the 2021 Academy Awards    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.





EGX launches new index EGX100 EWI to diversify market performance measurement
New index follows new methodology to better reflect performance of companies, says Mohamed Farid
Published in Daily News Egypt on 09 - 05 - 2020

The Egyptian Exchange (EGX) will on Sunday launch the EGX100 Equal Weight Index (EWI) replacing EGX100. The new index measures the performance of the best 100 companies on the EGX in terms of liquidity and activity including EGX30 and EGX70 EWI constituents.
The new index divisor has been calculated at 1,000 points starting from 2 January 2006. All listed stocks on the EGX100 EWI will have an equal weight, which is about 1% on the first day of the periodic review.
The EGX indicators committee has also approved some modifications to the listing methodology for companies that make up the EGX100 EWI, EGX70 EWI, and EGX50 EWI indexes, similar to the benchmark index EGX30, are to be implemented as of August 2020.
When developing the EGX30, the EGX management took into account the inclusion of companies that achieve high trading values on a monthly basis instead of total trading values at the end of the review period every six months, which could include companies with trading values spikes, but not constantly.
EGX Chairperson Mohamed Farid said that the methodology for calculating the new index is one of the approaches followed by many international institutions that issue indicators that reflect the performance of the companies that make up the index that is more reflective of their price performance.
The new index provides the possibility of creating financial products such as index funds, as the new index is a good tool that investment institutions can target in order to issue investment funds that follow the Index Tracking.
He added that the new index helps enhance the opportunities for growth and development of the investment funds industry by diversifying investment options and enabling them to accurately measure the performance of their portfolios that target the index.
The EGX management held a dialogue with all the actors of the market about the new index, which concluded that the market needs a new index of equal weights, and the EGX completed the requirements of the technical structure and index tests on the electronic trading system, necessary for its final launch scheduled for Sunday 10 May, according to the statement.


Clic here to read the story from its source.