Cairo - Mubasher: The Egyptian Exchange indices saw a mixed performance this week, which saw on its first day, the Palm Sunday terror attacks in Tanta and Alexandria that resulted in declaring the state of emergency across the country for three months.
This has led to excessive selling by Egyptian investors, while on the other hand, Arab and foreign investors leaned towards buying.
During the week, the benchmark index EGX30 lost 1% or 131.2 points, and closed at the level of 12,967.38 points.
EGX30 registered a total traded volume of 638.6 million shares with a total turnover of EGP 2.68 billion.
The heavyweight stock of the Commercial International Bank (CIB) went down 1.01% this week to EGP 77.20.
Meanwhile, the market capital decreased by around EGP 1.7 billion, and closed at EGP 662.6 billion.
EGX70 fell 0.63% to 590.45 points, while the broader index EGX100 added 0.6% and closed at 1,360.98 points.
The equal weighted index EGX50 declined by 0.89%, or 18.76 points, and closed at the level of 2,083.11 points.
The managing director of Watheeqa Securities Brokerage, Ahmed Abdulhameed, said that the Egyptian Exchange was negatively affected during Sunday and Monday’s trading, due to the attacks in Alexandria and Gharbia governorates.
Abdulhameed added that the mid-week session saw a momentum for foreign purchases which pushed the main index to approach the resistance level of 13,000.
However, on Wednesday and Thursday, EGX saw a slight decrease that led the market indices to close on a mixed note before Easter holidays, he indicated.
EGX30 is moving horizontally within the range of the support levels of 12,750 and 12,850 points, and the resistance levels of 13,000 and 13,150 points, the expert further explained.
Foreign and Arab investors were net buyers at EGP 1.28 billion and EGP 389.6 million, while Egyptian investors were sellers, netting EGP 1.67 billion.
Egyptians dominated 65.4% of total weekly trade, while foreign and Arab investors has shares of 27.7% and 6.9% respectively.
