EGX shuts on mixed note amid thin liquidity
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) shut on a mixed note Thursday, amid weak liquidity as Arab and foreign institutions tended to sell, while retailers mostly purchased.

The benchmark index EGX30 ended with a 0.36 percent rise, registering 9,518 points, compared to 9,484 Wednesday. In turn, the small and mid-cap index EGX70 fell 0.22 percent to 540.8 points, down from 541 points in its last session. The broader index EGX100 was almost flat, marking a 0.03 percent increase, recording 1,098.9 points.

Meanwhile, market capitalization dropped to 520.3 billion EGP, compared to 523.2 billion EGP Wednesday.

“The benchmark has retreated from the resistance level of 9,800 points and breached below its stop-loss limit of 9,575 points,” Ibrahim El-Nemr, Technical Analysis Desk head at Naeem Brokerage told The Cairo Post.

He added: “A confirmed breach below the support level of 9,255 points may drag it lower to 9,000 points,” advising investors to wait for another buy signal.

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