Cairo – Mubasher: The Egyptian Exchange indices were down this week, in which the market opened three days only, while market capitalisation lost around EGP 2.2 billion ($281.4 million) amid pressures from national and Arab selling.

EGX Head Mohamed Omran announced earlier that the stock market would close Tuesday and Wednesday on celebrating 30 June revolution and on banks’ holiday.

The benchmark index EGX30 fell by 1.09% or 91.45 points to close at 8314.72 points, compared with 8406.17 points last week.

During the week, the market was weighed by the car bombing that killed General Prosecutor Hisham Barakat, as well as by the terror attacks that hit army checkpoints in Sinai.

Sameh Gharib, head of technical analysis at Roots for Securities Brokerage, said EGX30 ended the week at its lowest level in one and a half month nearing the key support level of 8260 points.

The benchmark index is expected to test the 8260 level next week amid attempt to rebound from it, the analyst said, adding that the medium-term movement remains sideways between 8124 and 10,000.

EGX70, which measures small and mid-cap stocks, also declined by 0.99% or 4.43 points to 442.26 points, compared with 446.69 points last week.