Cairo – Mubasher: The Egyptian Exchange's benchmark index (EGX30) added 504.92 points, or 6.41%, to end October at 8,386 points.
The main gauge delivered a positive performance during the tenth month of the year 2016, said Sameh Gharib, head of technical research at Roots Securities Brokerage, clarifying "the EGX30 started the month at 7,881 points and reached its apex at 8,612 points. But a part of these gains was erased to close at 8,386 points"
Over the coming sessions, the main gauge is likely to move sideways between the resistance of 8,600 points and the support of 8,100 points, Gharib told Mubasher.
The largest EGX30 constituent CIB gained 6.65% all over the month to hit EGP 51.3 at close.
On the flipside, the small and mid-cap EGX70 declined 1.91% to 344.9 points, against 351.62 points in July.
The EGX70 is likely to test the mark of 350 and then 356 points during November, said Gharib, revealing that the 333-23 area is the main support zone now.
The broader index EGX100 increased 2.8% to 812.24 points, compared with 790.26 points in September.
The equal-weighted index EGX50 was higher 0.61% to 1,319.53 points.
According to Mubasher Pro data, foreign and Arab investors were net buyers, while nationals were net sellers. By category, individuals tend to buy stocks and institutions to sell theirs.
In September, the main gauge fell 276.9 points, or 3.39%, to stand at 7,881 points.
