Cairo – Mubasher: The Egyptian Exchange finished Monday’s trading session on a lower note, reversing its early upward movements.

The benchmark index EGX30 inched down 0.15%, 11.25%, to 7,506.18 points.  

CIB and Global Telecom ended the session higher by 0.54% and 2.86% respectively.

In terms of value, the largest EGX30 constituent led EGX stocks after registering EGP 128 million and more than 2.99 million shares changing hands. 

On the flip side, TMG, Juhayna, EFG-Hermes, Palm Hills, Pioneers, and OTMT saw a slid ranging from 2% to 6% on Monday.

The main gauge is seen sloping downwardly on the short term to reverse the strong upturn adopted after crossing the robust support area of 6,800 points, said Mohamed Ismail, technical analyst at Golden Hand securities.

As stocks ticked the targeted and profitable resistance marks, investors start seeking profit-taking, Ismail indicated.

He expected EGX30 to keep moving downwardly and retesting the 6,800-7,150 area.

The small and mid-cap index EGX70 edged down by 0.37% to 359.64 points.

Likewise, the broader index EGX100 edged down 0.51% to 765.77 points and the equal-weighted index lowered by 0.56% to 1,338.40

Arab investors were net sellers by EGP 50.7 million, while Egyptians and foreigners were net buyers by EGP 44.8 million and EGP 5.9 million, correspondingly.

By category, institutions came as sellers with EGP 4.6 million, while Individuals, led by national traders, are classed as net buyers with EGP 69.8 million  

Market turnover stood by the end at EGP 834.7 million after 318.9 million shares were traded.

Market capitalization lost EGP 1.57 billion ($176.4 million) to close at EGP 400.28 billion against EGP 401.85 billion yesterday.