Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices rose over the week ended 14 December, pushed up by Arab investors’ buying transactions.
The benchmark EGX30 added 2.69% or 385.18 points to 14,679.91 points after 723.6 million shares were traded, with a turnover of EGP 3.7 billion.
EGX30 rose this week on the back of the return of the buying trend, said Sameh Gharib, head of technical research at Roots Stock Brokerage House.
The index tests resistance at 14,700 points, and by breaking it, it will eye resistance at 15,000 points, with its support level at 14,500 points, Gharib added.
Market capitalisation gained EGP 32 billion to EGP 820.7 billion over the week from EGP 788.7 billion in the previous week.
The Commercial International Bank (CIB) added 2.02% to EGP 74.19 after 9.56 million shares were traded, generating EGP 706.9 million.
EGX70 surged 4.85% or 37.19 points to 804.74 points, while EGX100 soared 5.07% or 91.72 points to 1,902.53 points.
The equally-weighted EGX50 levelled up 3.45% to 2,572 points, with a turnover of EGP 4.6 billion.
Arabs were mostly buyers this week, with transactions worth of EGP 418.4 million. While Egyptian and foreign investors mostly were sellers, with transactions worth of EGP 299 million and EGP 119.4 million, respectively.
Egyptians accounted for 64.3% of EGX’s transactions in week, while foreigners and Arabs made up 23.4% and 12.3%, respectively.
Translated by: Muhammad Khalid
