By: Heba El- Kordy

Cairo – Mubasher: The benchmark EGX30 index has touched new record above 15,000 points on Thursday, encouraged by the Commercial International’s (CIB) stock and trades on Al Tawfeek for Financial Lease (AT Lease).

By 11:42 am Cairo time, the main index gained 0.81%, or 122.64 points, to 15,026.21 points.

The EGX30 is targeting 15,150 and 15,200 points over the coming period, technical analyst at Jazira Securities Brokerage Ahmed Thabet said.

Meanwhile, the heavyweight CIB rose 2.36% to EGP 78 at a turnover of EGP 38 million.

More than 95% of the Egyptian Exchange’s (EGX) stocks are seeing a downturn, Thabet indicated.

The EGX30 index was able to break its annual goal after the CIB surpassed EGP 78, he continued, forecasting the CIB’s stock to maintain rising towards EGP 80 and EGP 82, which will boost EGX30 to 15,200 and 15,250 points.

Some blue chips are likely to bolster the EGX 30 index higher over the remaining sessions, he expected.

The small- and medium-caps EGX70 index is still moving upward, despite the negative performance it witnesses on Thursday, he noted.

The EGX70 index has support at 810 points and may retest 845 and 860 points, the analyst highlighted, recommending investors to lower positions at 850 and 870 points.

It is worth mentioning that AT Lease’s stock jumped by 12.21% on its first minutes of trading on Thursday.

Translated by: Mai Ezz El-Din