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00:00 I will discuss it in more depth with my guest, Mr. Eissa Fathi, a member of Al-Qaher, Al-Dawul Al-Awraq Al-Mali.
00:07 Welcome. Mr. Eissa is always with us.
00:10 You will be absent from all markets in the region for a long time.
00:13 The Eid al-Fitr holiday was postponed and it was expected that some markets will be closed.
00:18 However, we saw that there are neighboring markets where this sales behavior did not happen, like Saudi Arabia and others.
00:24 How do you describe the situation today in the Egyptian market?
00:27 Is it a continuation of the correctional process? Do we link this to the achievements of the economic reform program?
00:33 We can say that the correctional process is ongoing.
00:40 We excluded the two sessions that were held on the eve of the presidential inspection.
00:46 There was an exception in this session.
00:49 Only half a session was held on the day of the presidential inspection.
00:53 After that, the market returned to its original state.
00:57 Therefore, the correctional process is ongoing, especially in the long-term conditions as we are now.
01:05 We will find that companies will avoid giving margin or trust to customers.
01:10 Therefore, the size of the trading will be reduced.
01:13 Therefore, in this case, it will be difficult to predict the direction of the market.
01:18 It may go down more, it may balance, it may rise slightly.
01:22 But before the Eid, I think that the size of the trading will decrease significantly in the coming period.
01:30 Therefore, we can say that the correction that we mentioned last week is still ongoing.
01:36 Today, the pound was withdrawn, not significantly, but it is still withdrawn.
01:42 We had a settlement of a few sessions, and today it was withdrawn to 47 pounds, 36 cents in exchange for the dollar.
01:49 What does this mean? Are the Egyptians who are trading today selling it for a while to reduce the gap between them and the foreign customers who have a dollar amount to enter the market?
02:00 Will this situation continue, Mr. Eissa?
02:04 We are now supposed to have entered a margin or balance price.
02:08 Therefore, it is not necessary that it will go down or up.
02:12 The important thing is that it goes up and down.
02:15 If there are large ups and downs for the dollar, I think it is good for the level of inflation and prices in Egypt.
02:26 But as you said, the rise in the dollar and the new prices was light.
02:34 By the way, not every bank sells or buys like the other.
02:38 Every bank, depending on the offers and demands it has.
02:41 A bank may sell at 47 or buy it, and the other may buy at 47.5.
02:46 This is the average of all bank prices.
02:50 But the banks themselves have differences in prices between each bank.
02:54 Each bank has the freedom to estimate the price it wants to work with.
02:58 Although the value of the dollar is about 20 times higher, the balance has almost become different, or the black market has already been dominated by the balance.
03:09 Let me ask you, Mr. Eissa, about the behavior of Egyptian institutions.
03:15 How long will the sale process continue?
03:18 Do you think that the word "sale" in the foreign market is a scary word?
03:23 "Easy profits"
03:25 What do you think? Should we go to the middle and correct it?
03:29 In general, the pressure comes from the institutions.
03:34 Although they have fewer employees, the number of employees in many of the leading institutions is significant.
03:42 Therefore, the lesson is not in the size, but in the ability to influence.
03:46 The institutions, judging by their artistic analysis, see that the market is still in a state of decline.
03:55 Therefore, even if they achieve a loss today, or if they have a collection of gifts for the customers at a lower price than the current prices,
04:07 they will be able to make a profit, although compared to the sales and the strikes, it is a loss.
04:15 But they know that they can buy it again at a lower price in the coming period.
04:20 Therefore, institutions are naturally for leading companies.
04:26 When you press a share, it works in a big way.
04:30 As we saw on Monday, the Egyptian institutions had a share in this day.
04:35 It entered and bought in most of the leading companies and raised the index by 5%.
04:40 So, the institutions have a very important role, and therefore, their withdrawal is an impact on the market.
04:47 The individual investor sees all the time on the screen the size of the institutions, what they do, sell and buy.
04:53 He makes decisions according to the movement of the institutions.
04:58 If we assume three months, we made 12% of profits.
05:03 We would have made more, of course, before we lost 6,000 to 7,000 points.
05:07 Today, we are correct until 27,900.
05:10 We would have reached about 34,000 or 35,000.
05:14 Is this legal in foreign markets?
05:20 In a healthy sense, we should withdraw.
05:27 For example, if within a month I made 20%, it is a very strong inflation and a balloon can explode.
05:35 How do you explain? Was it wrong from the beginning that we went out quickly, in a short period?
05:40 When we go back to what we said before, especially before the compensation,
05:48 the market was based on an unofficial price for the dollar.
05:53 Therefore, the price was being made, and therefore, any talk about 60 or 70 was always credible and dependent on the investors.
06:03 Therefore, people were buying in a form of randomness and a lack of order.
06:10 The market took to the levels that it is considered to be separated from the official economy.
06:16 The official economy became a valley, and the stock market worked in a single valley.
06:20 Who is better?
06:21 Of course, the best is the official economy, because in the end, this is the normal situation.
06:27 I will know how the stock market works through the economy.
06:33 Who is the reason? Foreign buyers and the sales of Egyptian institutions?
06:39 The reason is that the government policies themselves left the differences in the unofficial market.
06:49 The official market remained stable, and even at the highest level of the state,
06:57 it is not allowed to exchange the exchange rate, because it is a matter of national security.
07:03 The market is high abroad, and it is stable in the banks.
07:06 Therefore, people left this story and worked on the reality, and left it from the official talk,
07:12 which they see that there are big differences that will lead to this.
07:16 When the situation became that the exchange rate was high, and the dollars were available,
07:22 and today the investor or the businessman finds the dollars in the banks,
07:29 he does not need to go back to the black market.
07:32 From here, this drop happened.
07:34 People returned to re-evaluate the situation based on the previous excesses.
07:41 Therefore, the market is now falling.
07:46 In my opinion, the airport is not high, but we do not want to simulate this situation.
07:52 Let me return to the topic of what we expect after our return from the holiday.
07:57 There may be many global events, regardless of political tensions and so on.
08:03 Can the Egyptians submit orders for sale, fearing that something will happen to their governor?
08:13 As I said at the beginning, everything is possible.
08:19 It is difficult to predict anything at this time, especially when the holiday is long.
08:24 Although it will be for us about three days, which is the holiday period,
08:29 and the holiday period that we will enter is a holiday, and the week of Saturday is a holiday.
08:34 Therefore, we will come to the truth.
08:36 However, people do not believe in the conspiracy of circumstances and what may happen.
08:41 The conspiracy of the political and economic parties.
08:46 We see prices now that are rising in oil and gold.
08:51 I want people to be able to keep their investments and bet that things will get better.
08:58 And someone should do what you said, that he should start to clean up until he sees what the world will be like,
09:03 and start buying with cash.
09:05 If all of this is confronted, it is possible to balance in the market.
09:09 To keep or to lose.
09:11 By the way, you opened the topic to us.
09:14 What is the situation with gold in Egypt?
09:16 We have reached a period when its prices were incredible.
09:18 What is the situation today, especially with gold?
09:21 People are now trading at 47.
09:24 They were trading at 70 before, but now they are trading at 47.
09:29 So, the situation is not good.
09:31 What limits the price of gold is the price of the oil in the gold market.
09:35 Excellent.
09:36 As for the exchange rate, its parameters are stable.
09:40 There is no problem.
09:42 As before, the price of gold was rising, and the exchange rate here is higher than the dollar.
09:47 It was doubling in influence.
09:50 Between the stocks and gold, the saving that is today in light of these prices, where is it, Mr. Eissa?
09:55 Look, people have their own preferences.
10:02 It is possible that today someone works in the stock market and is used to the stock market.
10:06 And he knows how to make a profit from it.
10:08 He likes to hurt his heart.
10:09 And there is someone else who finds the suspense in it, and he makes it a kind of life for him.
10:17 He raises the adrenaline.
10:18 There are people who deal with the stock market as if it were a human being.
10:23 It is always in a state of shock and panic.
10:25 It rises and falls, and it changes.
10:27 On the contrary, for example, the stock market may be in a 30% decline.
10:31 In the bank, for example.
10:33 Especially that 30% is the period of a year, and then it will fall.
10:36 But today, if the stock market is in a state of recovery, it may fall for a while.
10:44 But when it rises, it rises with a start that makes it very rich.
10:48 So, everyone has their own way of finding pleasure in investing.
10:55 Yes.
10:56 And I am honestly enjoying talking to you, Mr. Eissa Fathia.
10:59 And you are the distinguished guest of the Cairo Company, which deals with financial documents.
11:03 Thank you.