Cairo - Mubasher: The Egyptian Exchange (EGX) saw a negative performance this week, which had only four trading sessions as Sunday was a national holiday, as Egypt commemorated the 45th anniversary of the 6th of October war triumph.
The benchmark index EGX30 dropped 814 points, or 5.8%, and ended the week at the level of 13,283.3 points.
The small and medium-sized enterprise index EGX70 lost 2.4% and settled at 685 points, while the broader index EGX100 went down 2.8% to 1,718.94 points.
The equal-weighted index EGX50 fell 7% and reached 2,046.5 points.
Market capitalization amounted to EGP 744.19 billion by the end of the week’s trade, losing EGP 38.48 billion.
Market expert Said El-Fekky told Mubasher that the market was affected by a global decline in stock markets around the world, nearing its lowest levels since May.
Breaking the support level of 13,600 points triggered more selling pressures on the main index, with rising concerns among investors, he explained, noting that the current support level is at 13,000, while EGX30 will continue to target the return to the 14,000-point level.
