I wrote an article on March 20 suggesting the setup of a strictly controlled fund to support the market, in order to ease the acute decline in share prices once they are back for trading. Despite being partially convinced with my idea and the praise of all my economist friends for the idea, we were all surprised by the sudden increase in the Egyptian share prices after the acute decline. The bourse achieved record increase during the trading closing on Sunday, where heavy acquisition operations led by investors took place. Tears flooded the eyes of brokers and the main trading hall witnessed extreme joy as a result of the increase in indices and stocks.
We should applaud the high professionalism of officials responsible for trading; where they took extreme cautious measures in handling the issue raised by Al-Masri Al-Youm newspaper about setting new codes belong to Mubarak's family and other businessmen who are barred from dealing. The bourse's management explained that those codes were set to ban those people from trading under any names. The former president and his family used regular names in trading, especially Alaa Mubarak who used the name of Alaa Mohammed Al-Sayyed in his trading transactions.
Although I am not a legal expert on the bourse, I believe that logic dictates that the president and his family should desist from getting involved in suspicious trading, since it is unlikely to see the president upset for receiving a call from his broker informing him that the stocks of Talaat Mostafa Group have gone down and that his savings are gone, or that Alaa Mohammed Al-Sayyed is in shock after his fortune evaporated after Ezz Steek stocks collapsed.