CAIRO: The Egyptian Exchange (EGX) shut on a mixed note, as the benchmark index EGX30 ended 0.67 percent higher, pushed by foreign institutions purchases, while retailers tended to sell.
The EGX 30 closed at 9,640 points, compared to 9,576 Wednesday. In turn, the small and mid-cap index EGX70 lost 0.11 percent to hit 556.3 points, down from 556.9 points in its last session. The broader index EGX100 was almost flat, losing only 0.02 percent, registering 1,120 points.
Meanwhile, market capitalization dropped to 523.3 billion EGP, compared to 524.6 billion EGP Wednesday.
“The EGX 30 failed to breach above 9,745 points, and a retreat from the current levels may send it lower towards the support level of 9,255 points and then 9,000 points,” Ibrahim el-Nemr, Technical Analysis Desk head at Naeem Brokerage told The Cairo Post.
He advised investors to be selective, setting the stop-loss limit at 9,255 points.