CAIRO: The Egyptian Exchange (EGX) closed Monday at 9,452 points, ending the day .92 percent higher than its Sunday close.
At 10:30 a.m., the benchmark EGX30 index had reached 9,392 points and continued its upward sideways movement through the day.
The EGX70 also ended the day at 633 points, marking a .79 percent increase from Sunday’s close.
Walid Helal, a technical analyst at El-Mokattam Securities Brokerage, said that small and mid- caps would lead the market during the trading session, and he advised traders to be selective.
The benchmark EGX30 reached the short-term target territory of 9,590 points last week; the Naeem brokerage warned profit-taking may lead to a decline towards the 9,150-point support level; although confirmed breach above 9,600 may send it higher towards 9,830 points.