Cairo – Mubasher: The Egyptian Exchange initiated Thursday’s trading session on a positive note.

By 10:15am Cairo time, the benchmark rose 1.26% to 7,534.89 points.

Likewise, the small and mid-cap index EGX70 was 0.28% higher to 366.84 points. The broader index EGX100 moved up by 0.39% to 770.5 points. The equal-weighted index EGX50 increased by 1.22% to the level of 1,399.75 points.

The top gainers were led by Beltone with a rise of 5.16%, then Gharbia Islamic Housing Development (+5%) and Egyptian Media Production City (+4.55%).

The top losers were Egypt Gas, Al Themar, and Extracted Oils with a slide of 5.16%, 1.18%, and 1.11% respectively.

Earlier, Pharos Research said “If the market rises today, this will probably be another chance to offload”, as their indicators for the market are witnessing clear negative divergences, and the overall situation and market breadth “look weak.”

The Research firm advised investors to “reduce exposure at the current rise, and place a clear stop below support”.