Mid-session: EGX shows mixed performance amid sideways trading
Egyptian stock exchange in Cairo - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) has so far shown a mixed performance halfway through Monday’s mid-session, amid downward sideways trading hurt by the negative performance of real estate stocks.

The benchmark index EGX 30 fell by 0.2 percent to hit 9,428 points, compared to 9,446 points Sunday. In turn, the small and mid-cap index EGX70 increased 0.28 percent, registering 662 points, up from 660 points last session and the broader index EGX100 added a slight 0.02 percent to reach 1,170 points.

Market capitalization added around 100 million EGP ($13.98 million), reaching 523.9 billion EGP, and up from 523.8 billion EGP last session.

“The market is still trading sideways in light of its flat wave where the benchmark index is moving around its support level of 9,430 points,” El-Mokattam Securities Brokerage technical analyst Walid Helal told The Cairo Post.

Total turnover witnessed a remarkable decline today, but this is a positive indicator for the uptrend while the index is down, Helal said.

The analyst further noted that the shift between stocks and sectors has been remarkable during this session as liquidity transferred from housing stocks to the ginning and land reclamation sectors.

Recommend to friends

Leave a comment