Cairo – Mubasher: The Egyptian Exchange indices delivered mixed performance on Monday, as the main index rose by 0.20% or 13 points to close at 6,408.12 points, while the small and mid-cap index EGX70 fell by 0.02% to 352.94 points.
The equal-weighted index EGX50 gained 0.05% to 1,094.97 points, while the broader index EGX100 ended 0.28% lower at 745.09 points.
The main gauge is moving in a short-term sideways trend, said Mohamed Ismail, technical analyst, adding that traders should focus on the key support level of 6,300 points.
According to the analyst, EGX30 will likely continue its sideways movement as long as it stays above the 6,300 area and then to move higher to re-test next resistance levels.
“However, a break below such an area will take the index further lower to resume the downtrend,” said Ismail.
CIB, the market’s heaviest weight, fell by 0.50% to close at EGP 34. It was the top active with a traded value reaching EGP 34.5 million.
Market capitalisation added around EGP 1.02 billion ($130.6 million) to reach EGP 413.33 billion.
Monday’s turnover amounted to EGP 313.6 million, generated from exchanging 140.3 million shares.
National and Arab traders were net sellers by EGP 18.5 million and EGP 7.4 million in a row, while foreign traders were net buyers by EGP 25.9 million.
Retail traders were net sellers, while institutions came as net buyers.
Out of the 153 companies traded today, risers outnumbered fallers by 52 to 49, while 52 others remained flat.
