EGX ends on a collective rise amid sideways performance
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) shut on a limited rise Tuesday amid sideways trading following a slip over the death of 22 football fans Sunday evening in Cairo.

The benchmark index EGX30 added 0.16 percent, registering 9,900 points, compared to 9,884 Monday. Also, the small and mid-cap index EGX70 rose by 0.27 percent to hit 601 points, down from 599.6 points in its last session. The broader index EGX100 went up by 0.1 points, recording 1,179 points.

Market capitalization added around 900 million EGP ($117.9 million,) totaling 533.8 billion EGP, compared to 532.9 billion EGP Monday.

“The benchmark managed to advance at the beginning of the session due to the buying power, before the sellers start to throw their stocks until the end of the session,” Adham Gamal Eldin, head of the technical analysis desk at Cairo Capital Securities.

Gamal added that the benchmark could move towards the support area of 9,800-9,830 points and approach lower levels near 9,580-9,600 points, which could stop the selling pressure.

The market faces 10,000 points as a resistance level, followed by 10,200 points, while the level of 9,800-9,830 points acts as first support level, followed by 9,580 points.

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