On Thursday, the Egyptian stock market closed with a collective decline across its indexes, reacting to a broader market downturn in Gulf exchanges. This decline coincided with rising geopolitical tensions in the region, particularly due to increased indications that the United States may be planning a major military strike against Iran. The market was under pressure primarily from selling activities among Arab investors, while Egyptians and foreign investors leaned towards purchasing, amid a notable decrease in trading volumes linked to reduced working hours during Ramadan.

The main index, EGX 30, fell by 2.98% to close at 50,667 points, while the EGX 30 capped index decreased by 3.27% to 61,203 points. Similarly, the EGX 30 total return index recorded a decline of the same magnitude, settling at 23,033 points. The downturn extended to mid and small-cap companies, as evidenced by the EGX 70 equal-weighted index which dropped by 2.96% to 12,726 points, and the EGX 100 equal-weighted index fell by 2.92% to finish at 17,804 points. The broad decline signaled increasing selling pressure across various stock categories, reflecting a challenging environment for investors.

Overall, the decline in the Cairo Stock Exchange reinforces concerns about market stability in light of ongoing geopolitical unrest. Investors are likely to remain cautious as external factors continue to exert pressure on market performance, highlighting the importance of monitoring developments in international relations, particularly involving the United States and Iran, which could have significant ramifications for regional financial markets.