CAIRO: EGX ended its Tuesday session with a mixed performance, boosted by foreign purchases amid local and Arab sell-offs.
The benchmark index EGX30 hiked by 0.24 percent to 7,176 points on Tuesday, up from 7,158 points on Monday.
The EGX 30 closed today on a positive note as 13 of 30 index movers closed in the green area, Head of Technical Analysis Department at Cairo Capital Securities Adham Gamal El-Din told The Cairo Post Tuesday.
“EGX main index managed to advance for the 5th session in row due to the buying power that entered the stocks near their bottoms. We should note that the upward move came with weak turnovers, which means that the index will not witness a significant up-ward move at the upcoming days,” he added.
On the other hand the index faces the resistance level of 7,300 points which may be the end for the upward move unless the turnovers increased, according to Gamal EL-Din.
Similarly, the small and mid-cap index EGX70 ended flat, down 0.07 percent recording 388.2 points, after 388.5 points in its last session.
The broader index EGX100 closed 0.03 percent up at 833.8 points, compared to 833.6 points on Monday.
Market capitalization gained around 300 million EGP ($42 million) registering 444.7 billion EGP, compared to 445 billion EGP on Monday.