EGX extends negative performance, benchmark ends flat
Egyptian Exchange - YOUM7(Archive)

CAIRO: The Egyptian Exchange (EGX) extended its mixed performance in sideways at the close of Monday’s session, amid a state of uncertainty regarding the implementation of a controversial tax on capital gains and stock dividends.

The benchmark index EGX30 shut on a flat note at 8,692 points, unchanged from Sunday.

Meanwhile, the small and mid-cap index EGX70 fell by 0.25 percent to end at 469 points, compared to 470.15 points in its last session. The broader index EGX100 lost 0.36 percent as well, registering 965 points.

Market capitalization lost around 100 million EGP ($13.11million,) totaling 499.3 billion EGP, down from 499.4 billion EGP Sunday.

“The benchmark is projected to focus on key resistance ranging between 9,000-9,050 points. Breaching this level would hinder the index upward rebound,” Osool Securities Brokerage technical analysis head Ehab Saeed told The Cairo Post Saturday.

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