EGX shuts on mixed note, benchmark off-sets morning dip
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) shut on a mixed note Monday after the benchmark index EGX30 off-set its morning slip triggered by selling pressures which emerged during the last session.

The benchmark ended 0.72 percent up, recording 9,599 points, higher than 9,530 points Sunday. In turn, the small and mid-cap EGX70 fell by 0.69 percent, registering 568 points, while the broader EGX100 index added 0.12 percent, reaching 1,140 points, up from 1,138 yesterday.

Market capitalization gained around 1.6 billion EGP ($222.28 million,) totaling 513 billion EGP, compared to 511.4 billion EGP Sunday.

Adham Gamal Eldin, head of the technical analysis desk at Cairo Capital Securities told The Cairo Post the market faces 9,580 points as a resistance level, followed by 9,800 points. On the other hand, the level of 9,300 points acts as first support level followed by 9,150 points.

“Investors are advised to choose their stocks carefully and to enter a stock near its support levels. They also should take profits near resistance levels for short-term trading purposes and activate their stop-loss tactic to avoid any risks that may occur,” Gamal recommended.

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