EGX closes mixed on Jan. 8

Egypt’s stock market closed mixed on Monday. The main index EGX30 dropped by 0.02 per cent to 25,344.63.

The small to mid-sized enterprises’ index EGX70 rose by 1.52 per cent to 57,64.13.

The EGX100 soared to 1.21 per cent to 8,250.47.

The market cap recorded 1,751,837,725,393 Egyptian pounds.

The transactions of Egyptians and Arabs were mainly buying with 17.6 million pounds, and 38.4 million pounds, respectively. While the foreigners’ transactions went towards selling with 55.97 million pounds.

The total value of the end-of-day trade reached 2.99 billion pounds with a total amount of 1.1 billion securities executed in 121.7 thousand transactions.

The main index moving in a medium-term sideways trend between the resistance levels of 23800-25600,said EGX board member and president of 3way Securities, Rania Yacoub, commented, adding that the indexes were able to maintain the average resistance level above 25,000.

She stated that the liquidity in the trading session was moving selectively between sectors.

She predicted that Tuesday’s early trade would see a rebound in the main index while also maintaining the resistance level of 25,000 during the rest of the week’s trading. The market is still awaiting the upcoming monetary policy committee decisions.