By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session up on the back of foreign and Arab investors’ buying.
The benchmark EGX30 index closed the session up 0.9% or 131.41 points to 14,713.63 points.
The EGX30 index was able to break resistance above 14,700 points, beating expectations, amid weak liquidity, market analyst Ahmed Thabet told Mubasher.
Trading volume stood at 304.7 million shares exchanged at a turnover of EGP 929.8 million through 27,201 transactions.
Market capitalisation closed at EGP 809.79 billion, losing EGP 4.3 billion.
The EGX30 index is targeting 14,800 points by the opening of Monday’s session, Thabet indicated, adding that it may see profit-taking and drop to 14700 points again.
He forecast the EGX to see a sideways-to-declining performance on Monday amid weak liquidity.
The EGX70 index inched up 0.3% to 797.83 points, while the EGX100 index added 0.49% to 1,861.24 points.
The EGX70 index may see resistance at 810 and 815 points during this week, he noted.
The equal-weighted EGX50 index went up 0.74% to 2,541.72 points.
Egyptian investors were net sellers with EGP 33.57 million, while foreign and Arab investors were net buyers with EGP 15.28 million and EGP 18.29 million, respectively.
Thabet expected blue chips to maintain moving upwardly over the next sessions.
The heavyweight Commercial International Bank (CIB) rose 1.74% to EGP 76.65, with a turnover of EGP 40.8 million.
HADISOLB, up 6.11%, led rising blue chips, followed by Amer Group and Porto Group which levelled up 5.88% and 5.71%, respectively.
On the other hand, Arabian Food Industries (Domty), Sidi Kerir Petrochemicals (Sidpec), and Palm Hills fell 2.61%, 1.86%, and 1.45%, respectively.
Translated by: Mai Ezz El-Din
