Cairo - Mubasher: The Egyptian Exchange (EGX) ended the week in losses, despite surging to new highs in the first days of April.
Moreover, the decision by the Central Bank of Egypt (CBE) to cut interest rates for the second consecutive month did not provide much support for the stock that recorded marginal losses by the end of Thursday’s trade.
For the first time in two months, the benchmark index EGX30 recorded losses, as it slipped 0.23% or less than 40 points, to end the week at 17,410.59 points, with traded volumes reaching 2.9 billion shares, and a total turnover of EGP 9.3 billion.
The market capital lost EGP 1.08 billion, as it reached EGP 973.09 billion.
Meanwhile, the small and medium enterprise index EGX70 declined by 0.62% to 865.53 points, while the broader index EGX100 levelled down 0.01% as it settled at 2,238 points.
On the other hand, the equal-weighted index EGX50 rose 0.26%, as it reached 2,994 points, with liquidity amounting to EGP 8.2 billion.
Market analyst Said Elfekky believes the main index losses come as the profit making continues, after EGX30 hit the 17,700 point-level, while the main support remains at 17,200 points.
