🔔 Good morning, and welcome to Telda Lens — your daily pulse on Egypt’s markets.
Today’s issue is not a traditional edition of our newsletter. Instead, we’re focusing entirely on the factors that have been driving the the main index of the Egyptian Exchange from one historic peak to another. Let’s take a look.
Deeper Look
EGX30’s record run: What’s driving the surge
The EGX30 reached a historic peak yesterday at around 11:20 AM, touching 46,000 points, before easing slightly to close at a record 45,905 points. The move extends the index’s strong momentum since the beginning of 2026, with gains now approaching 10% year-to-date.
What drove the rally
Yesterday’s advance was led by a strong set of performances from several heavyweight stocks. Telecom Egypt (ETEL) jumped 8.4%, followed by E-finance (EFIH), which surged 7%, while Abu Dhabi Islamic Bank (ADIB) closed up 5.3%. These gains more than offset declines from Egypt Aluminium (EGAL), which fell 2.6%, Arabian Cement (ARCC), down 1.6%, and Juhayna (JUFO), which slipped 1.4%.
Beyond the day’s movers, broader market momentum has also been supported by the continued strength of EGX30 bellwether Commercial International Bank “CIB” (COMI).
CIB’s outsized influence
CIB, which carries a weight of more than 32% in the EGX30, has rallied over 23% since the start of the year, driven by strong foreign and institutional buying. The stock closed yesterday’s session at EGP 126.7, reinforcing its role as a key engine of the index’s performance.
Can the rally continue?
A banking source told Asharq that CIB is currently trading at a price-to-earnings multiple of around 5.5x, which they view as significantly undervalued. By comparison with major African peers, the source said a fair valuation could be closer to 9x.
Another source noted that the bank’s strong profitability in 2024, with net income of roughly USD 1 billion, further strengthens the valuation case. As a result, investors are increasingly benchmarking CIB against regional banks rather than limiting comparisons to the local market.
Looking ahead, market attention is focused on CIB’s upcoming five-year strategy and potential dividend announcements, both of which are expected to play a decisive role in shaping the stock’s next move.
Market actions
What to Keep an Eye Out For
Today:
Cairo Educational Services (CAED) - dividend distribution date for EGP 1.40 per share. The record date was 18 January.
January 26, 2026:
Misr Oils and Soap (MOSC) - dividend record date for EGP 0.50 per share. The distribution date is January 29.
January 29, 2026:
Misr Chemical Industries (MICH) - dividend distribution date for EGP 2 per share. The record date was November 3.
That’s it for today.
Stay curious, stay invested — we’ll see you again on Monday.
Your daily market lens, signing off.
