Cairo - Mubasher: The Egyptian Exchange (EGX) indices advanced collectively on Wednesday, as the benchmark index EGX30 gained 1.10% or 69.68 points to close at 6,391.07 points.

The heavy weigh Commercial International Bank went up 2.95% to EGP 42.6, with 1.96 million shares change hands worth EGP 83.4 million.

The stocks of EFG-Hermes, Palm Hills, Amer Group, Oriental Weavers, Global Telecom, Pioneers Holding and Talaat Moustafa surged 0.8% to 5%.

The benchmark succeeded today in keeping its position near the major support level of 6,300 points, said Walid Hilal, portfolios Manager at Alexandria brokerage.

The main gauge adopts sideways trend on the short term between the major support level of 6,300 points and the resistance level of 6,650 points, said Mohamed Ismail, a technical analyst at Golden Hand Securities.

The investors are advised to keep close eye on the levels of 6,300 and 6,650 points, added Ismail.

The market capitalisation gained EGP 1.499 billion ($191.5 million) to reach EGP 414.9 billion, on Arab and local institutions buying.
 
The small and mid-cap index EGX70 inched up 0.31% to 351.17 points; while the broader index EGX100 declined 0.49% to 745.16 points.

The equal-weighted index EGX50 edged up 0.40% to 1,097.38 points.

Wednesday’s turnover amounted to EGP 698.4 million, with trading value of 182.4 million shares through 13,900 transactions.

Local and Arab investors came as net buyers with EGP 10.1 million and EGP 33.5 million respectively, while foreign investors came as net buyers with EGP 43.6 million.