Cairo - Mubasher: The Egyptian Exchange (EGX) rose during May’s trade, as the benchmark index EGX30 went up 6.48% or 805.6 points, and closed at the level of 13,239.16 points.
EGX30’s traded volumes reached 5.59 billion shares with a turnover of EGP 15 billion, compared to 2.6 billion shares and EGP 11.5 billion in April.
The main index was able during May to turn to the positive side as it exceeded the level of 13,000 points after starting the month at 12,583 points, Sameh Ghareeb, the head of technical research department at the Roots Stock Brokerage House.
Ghareeb indicated that the benchmark index has been moving between 13,550 and 11,844 points , the highest and lowest levels seen during the year, but it ended the month near the peak of this movement, with forecasts of exceeding the level of 13,550 points in June.
The expert also indicated that the returning signs of purchasing powers helped push a number of stocks led by the Commercial International Bank (CIB) to a new level of EGP 84.50.
Traded values in the last session reached levels unprecedented since March 2008, recording EGP 2.87 billion, adding that blue chip stocks are expected to perform better than small and medium ones.
EGX70 declined 2.05%, losing 11.94 points, and closed at 571.53 points.
On the other hand, the broader index EGX100 went up 1.7% or 23.75 points, and closed at 1,364.04 points, compared to 1,340.29 points, by the end of last month.
The equal-weighted index EGX50 went down by 1.87% or 37.44 points, and closed at the level of 2,038.77 points, compared to 2001.33 points by the end of April.
Egyptian investors we inclined to sell with a net EGP 3.01 billion, while foreign and Arab investors were net buyers with EGP 2.6 billion and EGP 433.6 million respectively.
The market capital increased by EGP 27.2 billion, closing at EGP 657.9 billion.
