Cairo – Mubasher: The Egyptian Exchange (EGX) advanced this week, gaining EGP 4.4 billion ($563.7 billion) in capitalisation to end at EGP 426 billion, compared with EGP 421.6 billion a week earlier, backed by national and Arab buying.
The market closed on Wednesday, 23 December, on celebrating the Prophet's Birthday.
The main index rose by 2.14% or 142.85 points during the week to close at 6,836.81 points.
The benchmark index EGX30 continued its positive performance this week, successfully crossing the 6,600 mark to near the primary resistance level of 6,900 points, said Sameh Gharib, head of research at Roots Securities.
The analyst added that the index needs strong buying activity to cross the 6,900 level higher. He indicated that the index is moving in a medium-term downward trend yet in a short-term correction.
The equal weighted index EGX50 pulled ahead by 2.83% or 32.33 points to 1,174.6 points.
EGX70, which measures small and mid-cap stocks, rose by 2.07% or 7.54 points to 371.63 points, compared with 364.09 points.
The broader index EGX100 fell by 1.14% or 8.65 points to reached 769.6 points, up from 760,95 points a week earlier.
National and Arab traders were net buyers by EGP 118.2 million and EGP 46.3 million respectively, while foreign traders were net sellers by EGP 163.6 million.
