Cairo - Mubasher: The Egyptian Exchange (EGX) ended Monday’s trading session in red due to the pressure of the selling activity of Egyptian and Arab investors after the state of emergency came into effect.
The benchmark index EGX30 lost 0.36% or 47 points, and closed at the level of 12,848.56 points.
The equal-weighted index EGX50 went down 0.27% to the level of 2,076.61 points.
On the other hand, the EGX70 added 0.99% and closed at 593.04 points, while the broader index EGX100 grew 0.63% to close at 1,357.84 points.
Technical analyst at African Group Mona Moustafa told Mubasher that the market indices are still confused while struggling to exceed the negative effects of the Palm Sunday attacks, as the stocks try to maintain support levels.
Institutions, long- and medium-term investors are currently controlled by fear and caution in anticipation of new signs as the small and short-term investors move towards speculations.
The main index has overcome its morning losses, which showed the selective purchasing power of foreign investors on some blue chip stocks, Moustafa added.
The stock of the Commercial International Bank - Egypt (CIB) showed clear stability as it rose by 0.92% and closed at EGP 77.15.
Traded volumes reached 178.5 million shares, while values amounted to EGP 745 million, through 27,000 transactions.
Egyptian and Arab investors were net sellers at EGP 18.6 million and EGP 4.16 million, respectively, while foreign investors were net buyers at EGP 22.7 million.
As for the stocks’ performance, 81 closed in red, 67 closed in green, while 27 remained unchanged.
The market capital declined by EGP 179 million, and closed at EGP 657.74 billion.
On Sunday, the EGX closed the session in a decline due to the pressure of the attacks in Alexandria and Gharbia governorates, as the market capital dropped EGP 7 billion.
