Cairo - Mubasher: The Egyptian Exchange (EGX) saw a very positive performance in the week that ended Thursday 1 March, supported by foreign investors’ purchases that exceeded EGP 450 million.
The last week of February saw the main index reach an all-time high at 15,700 points, with liquidity recording a historic daily level near EGP 4 billion.
The benchmark index EGX30 rose 0.81%, and closed at 15,443.18 points, seeing traded volumes of 991 million shares, with a turnover of EGP 6.9 billion.
As for the market capital, it gained a total of EGP 8.8 billion, closing at EGP 892.2 billion, compared to EGP 883.4 billion last week.
The small and medium enterprises EGX70 rose 0.64% to 861.59 points, while the broader index EGX100 gained 2.87% to 2,106 points, and the equal-weighted index EGX50 also went up by 1.09%.
Market analyst Michael Mamdouh Naguib said that the Egyptian Exchange was able to reach a new peak, however, the main index ended the week in red, signaling a short-term correction wave.
Support levels are now between 15,400 and 15,315 points, while resistance stands at 15,721.
