EGX closes Sunday trading with .79% rise
The Egyptian Exchange (EGX) - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) closed Sunday trading with an increase of .79 percent; the benchmark index EGX30 gained 81 points to close at 9,533 points, up from its open of 9,452.

The mid-cap EGX70 traded sideways throughout the session, to close up .29 percent, at 636 points.

Last week the exchange showed mixed performance, and market capitalization shed around 2 billion EGP ($280 million.)

Egypt’s market lost  ground for three consecutive sessions rattled by local unrest following a final court ruling that dropped charges against former President Hosni Mubarak over the killing of protesters during the 2011 January 25 Revolution.

Additionally, the market was hurt by Arab sell-offs following the Sunday OPEC decision not to cut oil output.

“The benchmark index EGX30 failed early this week in penetrating its previous resistance level at 9,370 points and dipped towards 9,150 points. Meanwhile, the index managed to stop its loss above 9,150 points and rebounded Wednesday to breach above its resistance,” Osool Securities Brokerage technical analysis head Ehab Saeed told The Cairo Post.

Recommend to friends

Leave a comment