Cairo – Mubasher: The benchmark index of the Egyptian Exchange (EGX), EGX30, levelled up by 1.47% or 184.24 points to reach 12,709.93 points by the four-session week ended on 4 May when compared to the previous week.
The trading value amounted to EGP 1.78 billion after 556.5 million shares were traded. The leading stock CIB rose by 1.52% to EGP 75.02 at a total value of EGP 216.3 million.
EGX’s market cap gained EGP 4.37 billion to stand at EGP 659.44 billion this week. EGX70 went up 0.86% to 592.06 points, EGX100 rose by 0.61% to 1,360.08 points, and the equal-weighted EGX50 edged up 0.10% to 2,031.99 point.
During this week, the Egyptian investors posted a total sale of EGP 850 million against purchases executed by foreign and Arab traders at a value of EGP 637.46 million and EGP 212.9 million, respectively.
The EGX30 index next week is expected to target new resistance level close to 12,750 and 12,850 points, which will temporarily hold the index back from rebounding to rise, the head of the technical analysis division at Osoul For Security Brokerage, Ehab Saeed, said.
Meanwhile, the EGX70 index is forecast to target resistance level close to 600 points, Saeed told Mubasher.
