EGX ends week on mixed note

Cairo - Mubasher: The Egyptian Exchange (EGX) showed a mixed performance in the first week of September, with most indices showing a horizontal movement.

The benchmark index EGX30 declined by 1.2% to the level of 15,803.17 points.

EGX30 maintained its movements between the resistance level of 16,000 pointsand support at 15,745 points, according to Michael Mamdouh, the head of customer relations in Arabeya Online.

Mamdouh told Mubasher that turnovers below the billion pound level will not be sufficient to lead the index above 16,000 points, as the market remains in a correction movement that is coming to an end.

Meanwhile, the small and medium sized enterprise index EGX70 rose by 0.27% to 749.46 points, while the broader index EGX100 levelled up 0.07% to 1937.88 points.

On the other hand, the equal-weighted index EGX50 decreased by 0.9% to 2578.2 points.

The market cap ended the week at EGP 874.67 billion, losing around EGP 7 billion compared to its level by the end of last week.

MUBASHER Contribution Time: 06-Sep-2018 16:52 (GMT)
MUBASHER Last Update Time: 06-Sep-2018 16:52 (GMT)