Cairo-Mubasher: Indices of the Egyptian Exchange (EGX) opened Tuesday’s session collectively higher, as benchmark index EGX30 rose 1% or 97 points to near the 10000 barrier at 9931.5 points.

EGX70 also gained 0.61% to 576.3 points, while the broader index EGX100 added 0.58% to 1148.7 points.

Mona Moustafa, technical analyst, African Economic Group, said EGX30 will have resistance at 9900 then 10012 and support between 9780 and 8715, while EGX7 will face resistance at 573-580 and see support between 568-655 points.

The analyst advised short-term traders to benefit from quick fluctuations in carrying out daily trading, while medium- and long-term traders were advised to continue to build new positions.

Mona Hassan, chief analyst, Mubasher Trade, said EGX30 declined slightly closing at 9,834, and it’s expected to resume rising towards 9,900.

Traded volume amounted to 2.6 million shares, exchanged at EGP 9.7 million.

Nationals and foreigners were net buyers by EGP 212 thousand and EGP 1.1 million respectively, while Arabs were net sellers by EGP 1.3 million.

Delta Construction was the top gainer (+5.11%), while Egyptians for Investment was the biggest loser (-1.44%).

Photo Credit: Arabianeye-Reuters