Today’s Trading Playbook
KEY THEMES
Yesterday, the EGX 30 failed to keep on a rebounding spirit, drifting 1.19% down. Egyptian retail investors were strong buyers on Monday, and as you might have guessed, institutional investors – especially Egyptian – were strong sellers. That’s why it was no surprise to see the EGX 70 EWI diverge from EGX 30, with the former ending the day up 2.4%. As we progress forward in 2021, it’s yet unclear when exactly the long-awaited shift from small to large caps will happen. We believed, and we still do, that cherry picking and individual stock selection, regardless of sector preference, is the optimal strategy in today’s market.
Now, on to the top news and analysis for the day.