Cairo - Mubasher: The Egyptian Exchange (EGX) ended Wednesday’s trading session on a rise on the back of foreign investors’ purchases, as market capital gained EGP 7 billion.
The benchmark index EGX30 added 0.70% or 88 points, and closed at the level of 12,671.29 points.
EGX70 edged up 0.02% to 586.62 points, while EGX100 rose by 0.48% to the level of 1,353.53 points.
The equal-weighted index EGX50 closed at the level of 2,031.3 points, gaining 1.45%.
Meanwhile, the market capital increased by around EGP 6.9 billion, and reached EGP 658.4 billion.
Traded volumes amounted to 148.5 million shares with a total value of EGP 1 billion, through 26,500 transactions.
Said Elfekki of Osool Securities told Mubasher that the rise of the EGX indices has continued on Wednesday as the main index exceeded the level of 12,700 points after a strong correction wave that saw it reach 12,545 points.
The analyst expects EGX30 to approach 12,750 points which is a preliminary resistance level followed by 12,850 points. If the index were to reach that level, it would mark the end of the correction movement, he believes.
Foreign investors leaned towards buying, netting EGP 143.4 million, while Egyptian and Arab investors were net sellers with EGP 53.8 million and EGP 89.5 million, respectively.
