CAIRO: The Egyptian Exchange (EGX) closed Tuesday with a small rise of approximately .35 percent, after downward sideways movement after an early morning jump of 1 percent.
The benchmark index EGX30 closed at 9,495 points, up from 9,460 registered at Monday’s close.
The EGX70 continued this week’s trend of sideways movement, with a slight loss of .38% Tuesday morning.
Chief technical analyst at Helwan Securities Ahmed Abdel Rahman said he attributed market’s early morning rise to “A strong buying spree among local traders, while Arab and foreign investors mostly sold,” adding that this group presented a “clear selling pressure.”
Shares of market heavyweight CIB dropped from 51.9EGP ($7.26) at open to close at 50.85 EGP ($7.10.)