The Egyptian Change (EGX) continued to say no final week, closing at 10,054.81 factors, recording a lower of 1.83%.
In the meantime, blue-chips witnessed a heavy sell-off, primarily Elsewedy Electrical, Talaat Mostafa Group, and the Industrial Worldwide Financial institution.
Mohamed Othman, Head of the Technical Evaluation Division at Pharos Holding, mentioned that purchasing energy has thus far been absent.
In case of the failure to keep up above the ten,100 factors stage, the benchmark index EGX30 could be weak for sturdy promoting stress the place the subsequent assist stage will stand at 9,800 factors. However, the primary resistance stage lies at 10,380 factors.
“In line with the present market situations and the absence of shopping for energy, we preserve our conservative perspective and recommendation for individuals who are investing out there to respect cease loss ranges for every inventory individually,” Othman added.
The EGX70 EWI posted a 4.88% achieve concluding the interval at 2,334.24 factors, whereas the S&P index declined by 1.59% to conclude the interval at 1,661.33 factors.
The EGX30 Capped declined by 1.73%, and concluded at 12,474.68 factors. In the meantime, the EGX100 EWI rose by 3.23% and concluded the interval at 3,251.86 factors.
Whole market capitalisation reached EGP 648.6bn on the finish of the interval, representing a lower of 0.55% over the final week.
The full worth traded recorded EGP 14.3bn, whereas the entire quantity traded reached 3,665 million securities executed over 288,000 transactions this week.
For the week earlier than final, the entire worth traded recorded EGP 18.0bn, whereas the entire quantity traded reached 3,537m securities executed over 287,000 transactions.
Shares buying and selling accounted for 59.07% of the entire worth traded of the principle market, whereas the remaining 40.93% had been captured by bonds over the past week.
Egyptians represented 86.3% of the worth traded in listed shares after excluding offers throughout the interval.
Foreigners accounted for 7.9%, whereas Arabs captured 5.8%. Foreigners had been internet sellers with a internet of EGP 201.8m, while Arabs had been internet consumers, with a internet of EGP 59.3m, after excluding offers in listed shares.
For the reason that starting of the 12 months Egyptians represented 81.6% of the worth traded in listed shares after excluding offers. Foreigners accounted for 11.4%, whereas Arabs captured 7.0%.
Foreigners had been internet sellers by EGP 1,953.4m, while Arabs had been internet consumers by EGP 450.2m, after excluding offers in listed shares throughout this 12 months.