Today’s Trading Playbook
Amr Hussein Elalfy CFA | Head of Research
KEY THEMES
We saw some intraday volatility yesterday as we measure it using the day’s high-to-low range. For example, three of our four blue-chip picks mentioned in yesterday’s issue ended the day up after reaching intraday highs, still beating EGX 30’s +0.04% performance. The names are:
- Orascom Construction [ORAS] (+1.3% d/d) had 3.9% intraday volatility.
- Elsewedy Electric [SWDY] (+1.7% d/d) had 1.9% intraday volatility.
- TMG Holding [TMGH] (+2.0% d/d) had 1.7% intraday volatility.
- Ibnsina Pharma [ISPH] (-0.2% d/d) had 1.6% intraday volatility.
How high this intraday volatility becomes clearer when compared to EGX 30’s 0.2% and EGX 70 EWI’s 0.6%. Meanwhile, foreign investors were net buyers yesterday, albeit with just less than EGP17mn, whereas Egyptians and Arabs were net sellers with just around EGP8mn each. We believe investors are still keeping an eye out for company-specific events, be it related to M&A or earnings reports.