Cairo – Mubasher: The Egyptian Exchange’s (EGX) benchmark index, EGX30, rose by 2.8% or 224.51 points to reach 8,255.36 points closing the week ended 5 August; the highest level in 13 months since July 2015.
EGX70 fell by 0.56% over the week to reach 360.45 points; EGX100 levelled up 1.22% to 794.48 points; EGX50 rose by 1.6% to reach 1,406.63 points.
Market cap gained EGP 3.2 billion ($355 million) over the week to reach EGP 419 billion as compared to EGP 415.83 billion a week ago.
Egyptian investors acquired 67.5% of the overall transactions at EGX this week, while both foreign and Arab investors acquired 26.26 and 6.25% respectively.
Some blue chips continued to achieve new price levels; the CIB reached a high level at EGP 49.55, EFG- Hermes reached EGP 13.62 per share, which is the highest level in more than a year since June 2015, financial analyst Sameh Gharib said.
The analyst noted that the purchase transactions have pushed the main index to rebound and reach above the level 8,030 points, approaching the resistance level of 8,300 points which may lead to the following resistance level at 8,500 points.
As long as EGX70 maintains its support level at 357 points, the index is expected to break the level 362 points by reaching above the level 356 points to target 376 points, the analyst added.
Translated by: Ingy ElSafy
