Cairo – Mubasher: The Egyptian Exchange initiated Monday on a stronger note on foreign investors' buying appetite.
The main index EGX30 rose 53 points, or 0.64%, to 8,405.9 points by 10:19am Cairo time.
The small and mid-cap index EGX70 was 0.32% higher to 366.2 points, while the broader index EGX100 increased to 814.6 points.
The largest EGX30 constituent CIB moved up 0.4% to EGP 50.97 per share by 10:16am Cairo time.
Foreign investors were net buyers by EGP 1.45 million, while Egyptians and Arab investors were net sellers by EGP 540,000 and EGP 910,000 respectively.
MubasherTrade Research expected fluctuations and lateral moves to continue today as "the index is about to test the minor resistance 8,500 one more time."
Market analyst at EGS Brokers Hoda El Menshawy said "in case the main index fails to hold above 8,373 points, it is likely to move in a downward channel extending from 7,836 points to 8,453 points.
