EGX dips at close battered by Arab, foreign sales
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) extended its losing streak Sunday, hurt by selling pressures from Arab and foreign traders.

The benchmark EGX30 fell by 0.54 percent, registering 9,283 points, compared to 9,334 Thursday. Also, the small and mid-cap index EGX70 lost a slight 0.05 percent to hit 557.7 points, down from 558 points in its last session. The broader index EGX100 also went down 0.21 points, registering 1,112 points.

Market capitalization declined to 509.2 billion EGP, compared to 511.2 billion EGP Thursday.

Mohamed Gaballah, a capital market expert, said the market is expected to end its correction on both short and medium-terms soon.

“A big rebound is also expected as the bulls are forecasted to appear near the support level of 9,200 points,” added Gaballah in comments to The Cairo Post.

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