Cairo – Mubasher: The Egyptian Exchange (EGX) closed the week ended Thursday, 22 June at a decline, with the benchmark EGX30 index falling 0.46% or 61.61 points and closing at 13,417.14 points.
Turnover amounted to EGP 2.66 billion after 870.2 million shares were traded.
Commenting on the benchmark's performance, Sameh Gharib, head of technical analysis at The Roots Stock Brokerage House, noted that the benchmark index attempted to shrug off profit-taking, which began the week before, after reaching 13,323 points.
The index only saw a minor rebound, but ended the week in the red, he added.
It is expected that the EGX30 will continue to attempt to rebound higher next week, which will only see one trading session on Wednesday and after the Eid Al Fitr holidays, Gharib said.
Resistance will be at 13,500 then 13,700, while support will be seen at 13,323 and 13,150 points, the analyst commented.
Meanwhile, the EGX70 index grew 2.81% or 17.39 points and closed the week at 637.3 points.
Commenting on the EGX70's performance, Gharib said that he expects the index to continue rising towards resistance at 640 points, while support will be seen at 620 points.
Over the week, the EGX100 added 2.61% or 38.15 points to 1,497.83 points, whereas the equal-weight EGX50 index fell 1.09% or 22.77 points to 2,071.51 points.
EGX market capitalisation increased by EGP 4.92 billion over the week, closing at EGP 691.63 billion.
The EGX will be closed for the Eid Al Fitr holidays from Sunday through Tuesday, with trading to resume for one day on Wednesday, 28 June.
The bourse will also be closed on Thursday, 29 June, with trading to resume on Sunday, 2 July.
