Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices collectively saw a slide during 17-21 July, pressured by the exchange rate’s fluctuations as well as a possible devaluation of the local currency.

The benchmark index EGX30 lost 146.19, or 1.93%, to the mark of 7,436.87 points.

The main index is currently moving in a narrow channel between the resistance of 7,700 points and the support of 7,370 points, said Sameh Gharib, head of technical research, Roots Stock Brokerage House, expecting EGX30 to face the next support level of 7,100 points by breaking below the mark of 7,370 points.

At lower pace, the small and mid-cap index EGX70 moved down by 0.48% to 358.05 points.

The broader index EGX100 fell by 0.83% to 763.25 points.

Further, the equal-weighted index EGX50 decreased by 2.07% to 1,323.83 points.

Over the week, Egyptian, foreign and Arab investors contributed to the trading activity by 81.98%, 12%, and 6.02%, respectively.

By category, institutions were net sellers by EGP 83.5 million, while individuals were net buyers by EGP 83.5 million.

The total market value shed EGP 4.94 billion ($553.3 million) to settle at EGP 399.44 billion against EGP 404.38 billion a week earlier.