EGX30 gains 2.4% in week; market cap up 20%

Mubasher: The Egyptian Exchange (EGX) ended the third week of February on a positive note, after a mixed performance by the main indices the week before.

The benchmark index EGX30 went up 2.36%, gaining 352.99 points, and closed at 15,318.92 points.

The market capital rose by 19.7% to end the week at EGP 883.4 billion, compared to EGP 863.7 billion in the previous week.

The small and medium-sized enterprises index EGX70 added 0.46% and settled at 856.10 points, while the borader index EGX100 levelled up 0.72% to 2,047.29 points, while EGX50 gained 0.48% to 2,676.88 points.

The main index saw a return of purchasing powers, which helped push its gains, according to analyst Sameh Gharib of the Roots Stock Brokerage House.

As the main index successfully exceed the resistance level at 15,070 points, the neutral outlook now sees a horizontal movement between 14,470 and 15,500 points, Gharib noted.

Resistance levels for EGX30 are now between 15,400 to 15,500 points, while EGX70 now targets the 856 to 828 range.

Mubasher Contribution Time: 22-Feb-2018 16:11 (GMT)
Mubasher Last Update Time: 22-Feb-2018 16:11 (GMT)