By Ahmed Allam:
Cairo-Mubasher: Indices of the Egyptian Exchange (EGX) rose slightly on Monday, backed by national and Arab traders who ended as net buyers.
The benchmark index EGX30 rose 0.15% to close at 8703.32 points. The small and mid-cap index EGX70 also added 0.46% to 558.39 points and the broader index EGX100 advanced 0.56% to 1062.71 points.
The benchmark rebounded from the profit taking seen late on Sunday, after a buying spree that began during the second half of Monday’s session, said Sameh Gharib.
He added, in a phone call with Mubasher, that EGX30 reversed its direction to cross the 8400 level and near resistance level of 8800 points, but the index rise was halted by selling pressures at 8726 level.
The analyst advised traders to closely monitor the index trend during Tuesday’s session. He defined resistance levels at 8800 then 9000 and support levels at 8400 then 8124 points.
Market capitalization gained around EGP 1.2 billion to reached EGP 486.748 billion.
Monday’s traded value amounted to EGP 604.7 million, while traded volume reached 155.2 million shares.
National and Arab traders ended as net buyers by EGP 31.4 million and EGP 16.6 million respectively, while foreign traders were net sellers by EGP 48 million.
Institutions, especially foreign ones, were net sellers, while retail traders were net buyers. Tracking stock performance, El Orouba Securities was the top gainer (+9.40%), while ATLAS was the biggest loser (-9.21%).
Translated by Sayed Abdel Rahman
Photo Credit: Arabianeye-Reuters