EGX extends rally over local institutions’ buying   
Egyptian Exchange - YOUM7

CAIRO: The Egyptian Exchange (EGX) extended its winning streak at the close of Sunday’s session, powered by local institutions’ purchases.

The benchmark index EGX30 edged up 0.75 percent to end at 7,548 points, compared to 7,492 points Thursday.

Similarly, the small and mid-cap index EGX70 rose 0.63 percent to end at 401 points, compared to 398.5 points in its last session.

The broader index EGX100 also increased 0.44 percent to close at 856.2 points, after 852.4 points on Thursday.

Market capitalization gained around 1.6 billion EGP ($166 million,) totaling 454.1 billion EGP, compared to 452.5 billion EGP in the previous session.

Egypt’s market rallied last week over leading stocks’ positive performance driven by an investor upbeat sentiment about Beltone Financial takeover deal.

The benchmark index EGX30 jumped 2.48 percent to end the week at 7,495 points.“The benchmark is projected to focus on its resistance level near 7,500 points,’” said Ehab Saeed, Osool Securities Brokerage technical analysis head.

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