Cairo – Mubasher: The Egyptian Exchange (EGX) started Sunday on a positive note as its main index rose 0.81% to 12,927.7 points by 10:38am Cairo local time.
The small and mid-cap index EGX70 moved 0.4% higher to 465.98 points.
The broader index EGX100 increased 0.4% to 1,117.07 points and the equal-weighted index EGX50 was up 0.8% to 2007.8 points.
Trading value reached EGP 372.6 million after 218.7 million shares were traded by 10:42am Cairo local time.
Global Telecom topped EGX30 gainers after adding 1.95% to EGP 28.4, followed by EFG-Hermes (+0.96%).
The largest EGX30 constituent CIB registered a 0.3% rise to EGP 74.01 with a turnover of EGP 8.6 million.
Egyptians and foreigners were net buyers by EGP 22.7 million and EGP 2.3 million, while Arab investors were net sellers by EGP 25.96 million.
The main index is likely to have resistance at the 13,100 zone, while having support at the 12,625-534 area, said Ayman Fouda, head of capital market committee at the African Economic Council, advising traders to selectively build profitable positions and save liquid money for buying on the dip.
