Cairo – Mubasher: The Egyptian Exchange concluded the trading activity this week on a mixed note, powered by Arab investor’s buying appetite.
The main index EGX30 gained 23.19 points, 0.31%, to close at the mark of 7583.06 points.
Tracking EGX30 stocks’ movement, Egypt Kuwait Holding, Pioneers, Madint Nasr, TMG, and Global Telecom registered a rise ranging from 0.5% to 4.7%.
On the flip side, Juhayna, Sidi Kerir, Edita, Qalaa, Ezz Steel, GB Auto, Elsewedy, SODIC, and CIB saw a slide ranging from 3.9% to 0.4%.
The benchmark succeeded in paring some early losses, said Sameh Gharib, head of technical research, Roots Stock Brokerage House.
Next Sunday, the EGX30 is forecasted to target the resistance area of 7,650 points which is seen as a no-advance mark and which is likely to see strong selling, Gharib added, indicating that this outlook is likely to be maintained as long as the market stays above the support level of 7,370 points.
Just in case of recoiling downwards, the index will target 7, 100 points once again, the analyst concluded.
Likewise, the equal-weighted index ended the session 0.25% higher to 1,351.77 points.
Meanwhile, the small and mid-cap index EGX70 fell by 0.49% to 359.77 points and the broader index EGX100 edged down 0.21% to 769.64 points.
Arab investors were net buyers by EGP 29.4 million, while Egyptians and foreigners came as net sellers by EGP 12.4 million and EGP 17 million respectively.
Trading value stood at EGP 613.3 million after 156.4 million shares were traded.
Market capitalization added EGP 1.68 billion ($189.3 million) to reach EGP 404.38 billion versus EGP 402.7 billion a session earlier.
The top gainers were led by Arab Valves Company (+8.8%), Nozha International Hospital (+8.7%), and Saudi Egyptian Investment & Finance (+7.9%).
Meanwhile, Middle Egypt Flour Mills (-5.9%), Alexandria Flour Mills (-5%), and Minapharm Pharmaceuticals (-3.99%) headed Thursday’s laggards.
