Indices of the Egyptian Exchange (EGX) ended Tuesday’s session on a mixed note, as the benchmark index trimmed its morning losses to shut 0.48% lower at 9112.69 points.
Meanwhile, the small and mid-cap index EGX70 went up 0.87% to 630.85 and the broader index EGX100 ended 0.44% at 1134.19 points.
Market capitalization gained around EGP 2.7 billion.
Mohamed Gaballah, head of trading, Tawfik Securities, said the benchmark fell in early trading hurt by investor worries about possible unrest during anti-regime protests called for next Friday.
However, most stocks reached selling saturation areas and became at attractive price levels which lured foreign funds that pushed the index higher again, according to the analyst.
Gaballah expected the benchmark to rise to 9380 over the coming two sessions, adding that the market may target 10000 level if Friday’ protests see no clashes.
Foreign and Arab traders were net buyers by EGP 87.6 million and EGP 1.1 million respectively, while nationals were net sellers by EGP 88.7 million.
Institutions ended as net buyers except for nationals, while retail traders were net sellers except for foreigners.
The market heaviest weight CIB was the top active with turnover exceeding EGP 101.7 million, while telecom firm OTMT came on top with a traded volume of more than 50.7 million shares.