Cairo – Mubasher: EGX indices collectively finished Sunday’s trading session on a positive note, registering the second green closing in a row thanks to foreign purchases.
The benchmark EGX30 rose by 0.32%, or 24.21 points, to 7,562.23 points.
The small and mid-cap EGX70 gained 1.88 points, or 0.51%, to reach 369.89 points.
The broader index EGX100 added 3.58 points or 0.46% to close at the mark of 781.43 points.
The equal-weighted index EGX50 was 0.39% higher to 1,412.39 points at close.
Around EGP862.06 million was added to the total market value, ending the session at EGP407.94 billion against EGP407.08 billion on Thursday.
With 161.27 million shares changing hands over 18,192 transactions, the stock market recorded a turnover of EGP372.47 billion against EGP526 billion on Thursday after 162.656 million shares were traded in 20,648 transactions.
Foreign investors were net buyers by EGP13.16 million, while Nationals and Arab investors were net sellers by EGP6.66 million and EGP6.5 million respectively.
Tracking stock performance, “the EGX30’s best performers were Edita, Telecom Egypt, and EFG Hermes, as they climbed 7.5%, 4.5%, and 2.8%, respectively. On the flip side, the worst performers were Amer Group, United Arab Stevedoring, and Global Telecom, as they shed 2.6%, 1.1%, and 0.7%, respectively”, according to Pharos Research Firm’s daily report.
EGX top gainers were led by Alexandria New Medical Center (+9.91%), Mena Touristic & Real Estate Investment (+8.11% ), Arab Valves Company (+7.69%), and Gharbia Islamic Housing Development (+6.02%).
Meanwhile, the laggards were Egyptian International Tourism Projects, Cairo Poultry, Development & Engineering Consultants, and EL Ezz Aldekhela Steel – Alexandria with a slide of 5.61%, 4.10%, 3.90%, and 3.42% respectively.
Earlier, analysts expected trading on EGX to be surrounded by caution following a five-session losing streak, EGX30 significant losses, and low liquidity.
Ehab Said, head of technical research at Mubasher, said The main gauge is likely to refocus on the 7750-7700 area, while the small and mid-cap is to test the resistance mark of 375 points.
On Thursday, the benchmark ended 1.41% higher to 7,547.49 points.
Translated by Ahmed El-Sayed Ali
