Cairo – Mubasher: The Egyptian Exchange during 4-8 December registered the first weekly decline for one and a half month on selling pressure by national traders.

The main index EGX30 lost 250 points or 2.17% to decrease towards 11,297.9 points.

Over the previous the main gauge kept moving between the support 11,100 and the resistance 11,700 amid national tendency for sell-offs, said market analyst Sameh Gharib.  

The benchmark is likely to test the resistances of 11,500 and 11,700 points next week, the analyst added, clarifying that if EGX30 fails to shoot above the present mark, it will falls towards the supports 11,100 and 10,600 respectively.

The small and mid-cap index lowered 14.2 points or 3.07% to stand at 449.36 points.

The broader index EGX100 fell 2.5% to 1060.5 points and the equal weighted index EGX50 was 0.6% lower to 1,819.19 points.   

National traders were net sellers by EGP 828.6 million, while foreigners and Arabs were net sellers by EGP 795 million and EGP 33.6 million respectively.

By category, individuals were net sellers by EGP 105.2 million, while institutions were placed as buyers.

Market capitalization  shed EGP 7.9 billion to end the trading week at EGP 563.6 billion.