Cairo – Mubasher: The Egyptian Exchange performed strongly last week. Market capitalisation added EGP298.6 million, closing at EGP386.2 billion against EGP385.9 billion a week ago.
The benchmark EGX30 last week rose 2.25% or 130.75 points to 5,944.47 compared to 5,813.72 points.
EGX30 maintained a relatively high performance during last week, as it extended the upward movement to ender 2.25% higher, said Sameh Gharib, head of technical research at Roots Securities.
He added that the index found secondary support level at 5,750 points and is currently swinging between the support level of 5,500 points and the resistance level of 6,300 points, he added.
A break below the 5,526 level will push the main index further to lower levels starting from 5,150 points, said the analyst, noting that the index has a short-term downtrend.
The small and mid-cap EGX70 gained 1.91 points or 0.55% to 349.39 points from 347.48 points.
Gharib stated that EGX70 neared a secondary resistance level of 354 points as a result of selling activity that have pushed it slightly down, expecting that it will quickly move up to the previous levels as long as it remains above the support level of 345 points.
The broader index EGX100 increased 8.01 points or 1.15% to 704.41 points from 696.4 points.
In addition, the equal-weighted index EGX50 finished the whole week 3.86% higher to 1,097.14 points, compared to 1,056.31.
Translated by: Ahmed El-Sayed Ali
