EGX closes Monday up .92% after steady upward sideways movement
Egyptian Exchange - AFP/Marco Longari
By THE CAIRO POST

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.

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