EGX dips at close, equities shed 1.3B EGP
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) shut on a limited slip Tuesday, with the benchmark EGX30 was mostly flat, edging only 0.04 percent up.

The benchmark closed at 9,709 points, compared to 9,713 Monday. Also, the small and mid-cap index EGX70 lost 0.52 percent to hit 563 points, down from 566.4 points in its last session. The broader index EGX100 declined by 0.34 percent, registering 1,132 points.

Market capitalization dropped to 516.7 billion EGP, compared to 518 billion EGP Monday.

“The EGX 30 reached near the resistance level of 9,675 points; however, a confirmed breach above 9,675 points may send it higher to 9,745 and then 9,875 points,” Ibrahim el-Nemr, Technical Analysis Desk head at Naeem Brokerage told The Cairo Post.

He advised investors to be “selective,” with the stop-loss limit set at is 9,255 points.

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