Cairo – Mubasher: The Egyptian Exchange (EGX) saw a slide in Sunday’s early trading session.

The main index EGX30 lost 125 points or 1.12% to stand at 11,095 points by 10:20am CLT.

The small and mid-cap index EGX70 declined 0.78% to 425.

Likewise, the broader index EGX100 and equal-weighted index EGX50 decreased 0.63% to 1,011.7 points and 1.74% to 1,731 points, respectively.

Nationals were net sellers by EGP 5.7 million, while foreigners and Arabs were net buyers by EGP 4.6 million and EGP 1.1 million, correspondingly.

Global Telecom was the most active trading value with an amount up to EGP 11 million.

Porto Group was the most active stock in terms of volume after 11.6 million shares were traded.

Both stocks fell by 2% and 3%, respectively. 

MubasherTrade Research expecting an unavoidable correction to hit the bourse after a three-week gaining streak.

“With the indicators reaching to overbought areas and after three weeks of continuous rising, a correction; even a sideways one has become inevitable,” said the research firm on Sunday.

Wit anticipations that the bullish may continue, the research agency advises traders to stop loss on the short term if the main index delves below 10,600 points.