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EGX gains EGP4.8 bln in week , Benchmark up 2.4%

EGX gains EGP4.8 bln in week , Benchmark up 2.4%
During this week’s sessions, which was limited to only two sessions, the Egyptian Benchmark index EGX30 rose 2.36% to reach 8103.67 points Exchange (EGX) rose collectively as it received strong support from the surge of Global Telecom’s stock after the settlement of Djezzy dispute. Small and mid-cap index EGX70 rose slightly by 0.64% to close at 610.3 points. The broader index EGX100 ended the week up 0.48%, closing at 1067.2 points. Market capitalization added EGP 4.8 billion to record EGP 482.4 billion, compared with EGP 477.6 billion the previous week. The Egyptian stock exchange announced that no trading will take place, tomorrow, Thursday, 24 April due to Sinai Liberation Day. Mona Abdel Atty , technical analyst at Africa Group said "market liquidity watched remarkable improvement during last two sessions ,driven by Institutions strong purchasing power against wide selling activity by Retail investors. Mona pointed out that EGX 30 still have resistance at level of 8388 points and in case of surpassing, it will target 8550 points while 8184 points is considered a support level.