"EGX30" يواصل الارتفاع للشهر السابع ويغلق عند أعلى مستوى في تاريخه
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00:00 Welcome Mr. Zwael.
00:02 Today's performance is weekly and monthly in the Egyptian market.
00:07 We noticed the rise in the 7th month in the highest levels in the market history.
00:13 But during this week we saw a drop and we started with a strong decline.
00:19 It was around 2000 points.
00:21 We tried to reduce it during the week.
00:24 How can we explain this performance of the week after the deal of the wisdom head?
00:28 And what are the reasons that led to this decline?
00:31 First of all, I would like to send my greetings to Dr. Mohamed Farid,
00:40 the president of the financial supervisory board,
00:42 Mr. Ahmed Abdelrahman, the president of the stock exchange,
00:44 and to the management of the organization.
00:47 This is evident in all the numbers presented by Dr. Mohamed Farid.
00:51 As we were criticizing the previous president of the board,
00:54 we should praise the current president and the president of the stock exchange
00:58 for their performance that reflected on the market.
01:00 We can see the billions on the screen.
01:02 It is very normal to see 8 and 9 billion every day.
01:05 This is the beginning.
01:06 Let's talk about the market.
01:08 The market was shocked last Friday and Saturday during the holidays.
01:13 What is the shock?
01:14 It is the announcement of the wisdom head project.
01:17 Why?
01:18 Because the pressure is 35 billion dollars.
01:21 The dollar fell in the black market on Friday and Saturday
01:25 from 68 to 50 pounds.
01:30 It dropped by 20 pounds in two days.
01:33 How did this affect the stock exchange on Sunday?
01:36 After we had exceeded 18,000 points, which is the previous historical peak,
01:41 we started to see all analysts saying that we are becoming more and more volatile.
01:48 We are hiding in the stocks.
01:51 The higher the dollar, the more volatile it is.
01:54 The volatility is increasing.
01:56 A lot of money has been invested and the stock market reached 30,000 points.
02:00 Then the wisdom head project came.
02:02 The dollar fell sharply in the black market.
02:05 Therefore, the investor is confused.
02:08 He is evaluating the dollar as he used to.
02:11 The dollar fell means that the stock market and the market fell.
02:14 Especially the commercial bank, because it was being evaluated in the GDR
02:18 and used to manage the currency through the GDR.
02:21 Or we improve the economic performance and the beginning of the crisis treatment.
02:26 This is what made the volatility high, between the sharp decline and the sharp rise.
02:30 This makes the volatility, which can make the stock market liquid in a second,
02:34 if it takes a credit or margin, because the margin could make it liquid.
02:38 Therefore, the treatment in this period is being very, very careful.
02:44 What do we see in the next period?
02:46 First, Morgan Stanley has put us in the review mode.
02:49 I think Morgan Stanley, after solving the dollar problem, will return the balance to Egypt as it was.
02:54 The second thing is that foreigners will enter the Egyptian market again with force.
02:59 The Arabs will also receive financial services companies, led by Hermes and Pelton.
03:05 I expect the financial services sector to rise.
03:08 The government will be able to sell government investments after the dollar price in the bank is new.
03:14 There will be a movement in government investments.
03:17 The 30,000 that we have tested more than once, is it the real peak of the market?
03:22 Or can we see a bigger coming, Mr. Zouail?
03:25 I was with you in December and I told you that we will see the Egyptian market peak in the first quarter.
03:34 We are still in the first quarter, and we are not able to pass the 30,000.
03:37 I expect that this is the peak.
03:39 What does this mean that the market will not rise?
03:43 No, the leading markets will be a little bit tight after the big rise in the last period due to the rise in the dollar.
03:49 So, the leading markets, such as the commercial bank, the IMF, the IMF, and the asset sector, which was performing well, will be a little bit relaxed.
03:57 What will work?
03:58 I think the real estate sector will work, and the financial services sector will work.
04:02 And as I said, the government investments.
04:05 So, we may not pass this peak as a reference number, but we will see in the coming period opportunities in the exchanges and opportunities for individuals.
04:15 As long as the individuals earn, the interest is high, so they work at any level.
04:19 As soon as the individuals start to lose a lot, the GX70 will be affected.
04:24 The Prime Minister confirmed today that he will receive 5 billion dollars as the first payment from the capital project deal.
04:30 The second payment of 5 billion dollars will be on Friday.
04:34 He is looking forward to the transfer of a part of the UAE deposits to the central bank of 520 million dollars.
04:41 It has entered the Ministry of the General Sector of Business from the historical hotels deal.
04:45 Is the truth being revealed?
04:47 Are you close to the process of shifting the exchange rate and compensation?
04:52 Or is the government still waiting for other things to start this step, Mr. Wael?
04:56 I think we are very close to shifting the exchange rate into the central bank.
05:05 First, the 5 billion dollars that came today, there are 5 billion dollars that came tomorrow Friday.
05:10 And by the way, Friday, the UAE is open, because some people doubt that the UAE is open on Friday.
05:15 So it is easy to shift the money on Friday.
05:17 So that's 10 billion.
05:19 And 5 billion for the transfer of dollars to Egyptian pounds, so that's 15 billion.
05:24 The Monetary Fund has prepared a fund that will spend more than 20 billion dollars, but it requires some conditions.
05:30 Among them is the cost of the loan.
05:32 So we will not spend, but we will move.
05:34 We have the example of the country of the white or the yellow.
05:37 We spend first, then we move, or we move first and then we spend.
05:41 This time I see that we are moving for a reason.
05:45 The central bank is now able to cover the deposits, and this is the first stage.
05:49 Last week, it covered the deposits with 1.3 billion dollars.
05:53 So it has 10 billion dollars in cash, plus 5 deposits that will be opened, so that's 15.
05:58 Next week, it can cover all the deposits.
06:02 And thus, it will reduce the pressure on the demand for dollars in the black market.
06:06 On the contrary, I think that the black market will be hit by another shock during Friday and Saturday.
06:11 And thus, I expect that the compensation will be at the beginning of next week.
06:15 It will have to spend a sum of more than 20 billion dollars.
06:20 So now we have about 35 billion dollars ready to move the exchange rate.
06:26 We thank you, Mr. Wael Ainaba, Deputy President of Tycoon, for managing the deposit.
06:32 Thank you.