Cairo – Mubasher: The Egyptian Exchange (EGX) saw mixed performance during the week ended Thursday, which had only three trading sessions due to Eid Al Adha holiday, bolstered by foreign and Egyptian buying.
The benchmark EGX30 index marginally rose 0.13% or 16.92 points to the level of 13,433.69 points by the end of this week.
Traded volume on the EGX30 index stood at 927.14 million shares, with a turnover of EGP 1.8 billion.
Commercial International Bank – Egypt (CIB) tumbled 1.67% in a week to EGP 82.84, with a turnover of EGP 257.5 million and a traded volume of 3.10 million shares.
The EGX70 index edged up 0.48% to 689.26 points, while the EGX100 index grew 1.16% to 1,555.13 points.
The equally-weighted EGX50 index added 2.71% to 2,101.06 points, with a turnover of EGP 2.17 billion.
Market capitalisation gained EGP 378.9 million on a weekly basis to close at EGP 705.39 billion, versus closing at EGP 705.012 last week.
Foreign and Egyptian investors were net buyers with EGP 203.104 million and EGP 14.5 million, respectively, while Arab investors were net sellers with EGP 217.5 million.
Saeed El-Feki, CEO of Osool ESB Securities Brokerage, said that the EGX’s indices are likely to see a positive performance by the beginning of the next week, as the EGX30 index may test the level of 13,700 points.
Real estate sector is anticipated to bolster the EGX over the coming period, El-Feki said, referring to the price leap that real estate sectors’ stocks witnessed in the first half of 2017.
The EGX70 index is facing sideways trends between 690 and 700 points, aiming the level of 710 points over the next period, he noted, adding that the index prices are still attractive and are currently considered as a good opportunity for investment.
