Cairo – Mubasher: The Egyptian Exchange (EGX) saw a positive performance in the week to 20 December, recording its second consecutive weekly gains.
Benchmark index EGX30 rose by 140 points or 1.08%, closing at the level of 13,137.5 points, its highest month-to-date.
Analyst Sameh Gharib told Mubasher that the rising of CIB led the recovery of the main index, and it could also support the return of a more positive outlook.
Gharib expects the index to target the resistance level at 16,500 points, with its main support now being the 13,000-point level.
EGX70 ended the week at 678.21 points, gaining 0.46% after fluctuating across the week, with resistance level remaining at 680 points, which if it reached next week it will target 695 points.
The broader index EGX100 increased by 0.48% or 1,690 points to close at 1,698.79 points.
Equal-weighted EGX50 levelled up 0.05% to settle at 2,145.6 points.
Market capital ended the week at EGP 744.9 billion, increasing by around EGP 4.7 billion.
