By: Heba El-Kordy
Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a mixed note amid Arab and foreign buying against local selling.
The benchmark EGX30 index jumped 1.38% or 206.2 points to 15,159.37 points.
The EGC30 index was able to overcome the profit-taking wave it saw before the Coptic Christmas holiday and to see rebound on today’s session, hitting record highs, technical analyst at Pioneers Holding Mohamed Gaballah told Mubasher.
The main index is still moving upwardly towards 15,300 points, Gaballah highlighted, adding that the index has support at 15,060 points and
Market capitalization closed at EGP 840.7 billion, its highest level since June 2008, gaining EGP 5.4 billion.
The heavyweight Commercial International Bank (CIB) rose 1.95% to EGP 79.51 at a turnover of EGP 180.5 million.
CIB has support at EGP 72 and EGP 77 and has an upward potential at EGP 82, Gaballah noted, adding that the stock may test EGP 98 on the medium term if it settles above EGP 82.
The small- and medium-caps EGX70 index dipped 0.11% to 831.57 points, while the broader EGX100 slipped 0.25% to 1,982 points.
The EGX70 is seeing sideways trend between 815 and 850 points, the analysts highlighted.
The equal-weighted EGX50 index added 1.13% to 2,613 points.
Trading volume stood at about 397 million shares exchanged through 31,400 transactions at a turnover of EGP 1.3 billion.
Egyptian investors were net sellers with EGP 143.6 million, while Arab and foreign investors were net buyers with EGP 18.2 million and EGP 125.4 million respectively.
Blue chips including Egyptian resorts, Oriental Weaver Carpets, and Sidi Kerir Petrochemical (Sidpec) levelled up 5.23%, 4.13%, and 3.58%, respectively.
On the other hand, TMG Holding, Ezz Steel, and EFG Hermes fell 2.45%, 1.61%, and 1.44%, respectively.
Translated by: Mai Ezz El-Din
