Dealers in the Egyptian Exchange (EGX) expected the continuation of the positive performance in the capital market during the coming sessions, provided that the small and medium-sized companies index would surpass its highest historical peak of 3,070 points, with the support of local purchases.
The market achieved the highest market capitalization value in its history during the mid-week session, when it closed at a level of EGP 1.05trn.
The benchmark index EGX30 closed Tuesday’s session, up 0.03%, to reach 15,978 points, while EGX50 EWI decreased by 0.96% to 2,821.35 points.
Sameh Gharib, head of senior clients at Arabeya Online, suggested that the main index would cross the resistance level of 16,275 points, then 16,500 points, and if it is crossed, it will continue between the level of 16,600 points, then 16,800 points.
He said that the index approached the level of 16,000 points during mid-week trading, and it is normal to reach the level of 16,275 points, during the upcoming sessions.
Gharib added that the shares of the petrochemical and fertilizer sector were able to move during the previous sessions, in addition to the shares of Fawry Banking Technology and Digital Payments, and MM Group for Industry and Global Trade.
EGX70 EWI rose by 0.42% to the level of 2962.4 points, and the “EGX 30 capped” index increased by 0.55% to the level of 19487 points, and the broader EGX100 index decreased by 0.07% to 4428 points.
The market recorded trading values of EGP 3.14bn, with a circulation of 696.4 million shares, carried out on 83,800 transactions, and the shares of 201 listed companies were traded, of which 100 shares rose, and the prices of 44 shares declined, and the prices of 57 shares stabilized, and the market capitalization of the listed shares closed at the level of EGP 1.053trn.
