Cairo – Mubasher: Cairo bourse achieved marginal gains during 12-15 December 2016 with Obour Land marking its debut in the trading arena.
The benchmark index EGX30 added 28.1 points or 0.3% to level up at 11,326.03 points.
Turnover reached EGP 4.35 billion after trading 1.3 million shares over the past four-session week.
The total market value gained EGP 7.4 billion to close at EGP 571.1 billion.
Obour Land started trading on the Egyptian Exchange last Thursday, achieving EGP 146.8 million for 14.99 million shares changed hands. The stock quote rose 1.24% to EGP 9.8 per share.
The largest EGX30 constituent CIB declined 1.5% to EGP 67.1 per share.
On the other hand, Ezz Steel ticked 52-week high as moving up 19.8% to EGP 14 a share, registering a turnover up to EGP 442.4 million.
Market analyst Sameh Gharib said the market was moving sideways over the last week between the support 11,100 points and the resistance 11,700 points.
This sideways performance is forecast to come to an end next week, namely in case that the main index shoots above the 11,550 zone, the analyst added.
Meanwhile, if any reverse occurs below 11,100 points, the index will move in a downward channel towards 10,600 points, the analyst concluded.
The small and mid-cap index EGX70 moved 0.52% higher to 451.7 points after 120.8 million shares traded at EGP 737.04 million.
The broader index EGX100 advanced 0.4% to 1,064.4 points with transactions worth EGP 5.1 billion for 1.4 billion shares.
The equal-weighted index EGX50 went 0.6% up to 1,819.8 points.
Nationals were net sellers by EGP 154.5 million, while foreigners and Arabs were net buyers by EGP 360.75 million and EGP 55.7 million, respectively.
