EGX Chairman, Dr. Mohamed Omran, issued decision no. 205 for year 2014 regarding the guidelines of the discovery session. The session will be launched on the 7th of August whereby it will be executed on daily basis before the trading session by half an hour in order to determine the opening price that reflects any modification took place since the closing of the previous day trading session.
The decision also declared the extension of trading hours to be 4 and half hours after Ramadan; the main trading session will start at 10.00 am till 2.30 pm.
Dr. Omran asserted earlier that the late steady status helped in removing many of the precautionary measures. He mentioned that removing the precautionary measures and extending the trading hours send a clear message of investors that EGX has recovered from the last years’ incidents and Egypt’s condition is back to normal. He expressed his optimism that the upcoming period will witness major attention for the capital market.