Cairo – Mubasher: The EGX30 fell 2.95% or 380.16 points to reach 12,525.69 points this week. The index saw a turnover of EGP 2.47 billion through exchanging of 564.3 million shares.

Commercial International Bank – Egypt (CIB) declined 4.91% to EGP 73, with a turnover of EGP 261.1 million.

Sameh Gharib, head of technical research at Roots Stock Brokerage House, said that EGX30 ended the week in the red zone amid selling pressures to end the week at 12,525 points.

The main index broke through the important support level of 12,737 points to below, to transfer its short-term trend to the downwards and to reach the level of 12,500 points, trying to stand steady above this level, Gharib added.

Gharib expected that for the next week the index's trials will continue, in addition that the level of 12,700 points is the nearest support level for the index.

Market capitalization reached EGP 655 billion this week, compared to EGP 8.3 billion last week.

Foreign and Arab investors were net buyers by EGP 1.17 billion and EGP 269 million, respectively, while Egyptian investors were net sellers by EGP 1.4 billion.

Institutions were sellers by EGP 241.9 million acquiring 54.4% of trades, while the individual were purchasers by the same value.

The EGX 70 went down 0.68% to reach 587.01 points this week, while the EGX 100 decreased 1.08% to 1,351.78 points.

Meanwhile, the EGX 50 retreated 1.75% or 36.19 points to stand at 2,029.95 points.

Gharib noted that EGX70 also lost 4 points as a result for selling pressures.

He added that the index is standing at its nearest support level at 585 points and by continuing to move above this level, the index is expected to rise again rapidly to the support level of 600 points.