Cairo - Mubasher: The Egyptian Exchange (EGX) declined for the third consecutive week, as global stock markets struggled.
Last week’s trade witnessed excessive selling that was mainly driven by random concerns from investors after a violent correction wave in markets around the globe, analyst Michael Mamdouh Naguib told Mubasher.
The benchmark index EGX30 went down 1.11% or 167.37 points, and closed at 14,921.29 points, with traded values reached EGP 3.4 billion with a total volume of 820.9 million shares.
Support levels for the main index are now at 14,870 and then 14,468 points.
On the other hand, EGX30 is targeting resistance levels between 15,000 and 15,070 points, the analyst noted.
Market capital lost EGP 8.9 billion, and ended the week at EGP 852.5 billion, compared to EGP 861.4 billion by the end of the previous week.
EGX70 fell by 2.58%, as it reached 848.49 points, while the broader index EGX100 was down 1.53% and ended the week at the level of 2,025 points.
The equal-weighted index EGX50 declined 1.79% and closed at 2,647 points.
