Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices rose at Thursday’s close amid domestic buying versus Arab and foreign selling.

The benchmark EGX30 index inched up 0.06% or 7.93 points to close at 13,715.06 points, backed by a limited number of leading shares led by the Commercial International Bank – Egypt (CIB).

The EGX30 witnessed fluctuating performance towards the end of Thursday’s trading session, closing above the important support level of 13,650 points, with selling pressures likely to be seen near the resistance level of 14,000 points, Mohamed Ismail, head of technical research at Faisal Securities Brokerage, said.

He advised investors to take the support level of 13,650 points as a short-term profit protection level, which if the EGX falls below it then further correctional declines are expected until the market retests support at 13,250 points.

The EGX50 edged down 0.22% to the level of 2,106 points, whereas the EGX70 and EGX100 indices rose 1.09% and 0.75% to 674.8 points and 1,554.77, respectively.

Market capitalisation increased by EGP 1.69 billion and closed at EGP 710.68 billion.

Traded volume reached 409.47 million shares exchanged at a turnover of EGP 792.6 million, through 22,800 transactions.

Foreign and Arab investors were net sellers with EGP 30.3 million and EGP 28 million, respectively, while Egyptians were net buyers with EGP 58.2 million.

Ezz Steel, Amer Group Holding Co, and Egyptian Resorts, led falling blue chips and dropped 3.94%, 2.86%, and 2.7%, respectively.

CIB’s stock inched up 0.17% to EGP 86.6, backed by a 29% growth in profits in the first half of 2017.

Arabian Food Industries Co, Madinet Nasr Housing and Development, Cairo Oils and Soap, and Elsewedy Electric Co levelled up 3.78%, 2.62%, 1.17%, and 1.06%, respectively.