Cairo – Mubasher: The Egyptian Exchange (EGX) indices ended on a mixed note at the close of Wednesday’s session, while the market capitalisation added around EGP 658.4 million, buoyed by a buying spree among retail traders.

The benchmark index EGX30 fell 0.10% or 8.61 points to end at 8,966.71 points. Meanwhile, the small and mid-cap index EGX70 rose 0.15% to 483.89 points and the broader index EGX100 ended 0.82% higher at 1,009.28 points.

Wednesday’s traded value amounted to EGP 636.5 million, while traded volume reached 208.2 million shares.

National and Arab traders were net buyers by EGP 17.3 million and EGP 1.2 million, respectively, while foreigners were net sellers by EGP 18.5 million.

Out of the 170 securities traded today, 75 moved up, 65 moved down, while 30 others remained flat.

The market has continued its sideways movement, with a slight downward trend, for two successive session, said technical analyst Ahmed Thabet, adding that there was a wide disparity between the performance of blue chips and that of small and mid-cap stocks.

“However, the market performance remains solid, especially amid expectations it will steady above the 8,930 to 8,935 area and re-test the 9,120 level over the coming period, coupled with a rise in leading stocks in key sectors,” said Thabet.

The analyst also said some leading stocks saw a rebound, such as Telecom Egypt that, despite its recent decline, may target EGP 9.40-9.50 upon staying above the EGP 8.50 level.

Ezz Steel stock is also likely to steady above the EGP 11.60-11.70 area to re-test the levels of EGP 12.40 and then EGP 13, the analyst noted.