Mid-session report: EGX loses 200M EGP amid sideways
Egyptian stock exchange - YOUM7 (Archive)
By YASMINE SAMRA

CAIRO: The Egyptian Exchange indexes showed a mixed turnout during Thursday’s mid-session, amid sideways movements and low turnover.

Market capitalization lost about 200 million EGP reaching 475.7 billion EGP, compared to 475.9 billion EGP on Wednesday.

The benchmark index EGX30 dropped 0.24 percent to hit 8,060 points, compared to 8,080 points on Wednesday. The small and mid-cap index EGX70 went up 0.08 percent at 601 points, and the broader EGX100 index also gained 0.11 percent to reach 1,055 points.

Head of technical analysis at Osool ESB for Securities Brokerage Ehab el-Saeed predicted the indexes will move in sideways during Thursday with a downward tendency.

“Meanwhile, EGX30 is expected to shoot above 8,100 points Tuesday while trade will be resumed after Easter,” he added to The Cairo Post.

Egyptians and foreigners’ net sell-offs registered 765,600 EGP and 706,800 EGP respectively Thursday, while Arabs’ net purchases reached 1.47 million EGP.

On Wednesday, the EGX adged up, boosted by blue chips topped by Hermes and Talaat Moustafa, while CIB and Global Telecom kept the benchmark index EGX30 moving in sideways. Market capitalization gained more than 2 billion EGP.

EGX30 rose by 0.67 percent, moving closer to the 8,100 points mark to hit 8,080 points. The small and mid-cap index EGX70 also edged up 0.47 percent to hit 600 points and the broader index EGX100 also moved up 0.44 percent at 1054 points.

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