Masress : Recent market rebound leads EGX towards 10,700 points resistance level

Egypt's golf chief Omar Hisham Talaat elected to Arab Golf Federation board Egypt extends Eni's oil and gas concession in Suez Gulf, Nile Delta to 2040 Egypt, India explore joint investments in gas, mining, petrochemicals Egypt launches National Strategy for Rare Diseases at PHDC'25 Egyptian pound inches up against dollar in early Thursday trade Singapore's Destiny Energy to invest $210m in Egypt to produce 100,000 tonnes of green ammonia annually Egypt's FM discusses Gaza, Libya, Sudan at Turkey's SETA foundation UN warns of 'systematic atrocities,' deepening humanitarian catastrophe in Sudan Egypt's Al-Sisi ratifies new criminal procedures law after parliament amends it Egypt launches 3rd World Conference on Population, Health and Human Development Cowardly attacks will not weaken Pakistan's resolve to fight terrorism, says FM Egypt's TMG 9-month profit jumps 70% on record SouthMed sales Egypt adds trachoma elimination to health success track record: WHO Egypt, Latvia sign healthcare MoU during PHDC'25 Egypt, India explore cooperation in high-tech pharmaceutical manufacturing, health investments Egypt, Sudan, UN convene to ramp up humanitarian aid in Sudan Egypt releases 2023 State of Environment Report Egyptians vote in 1st stage of lower house of parliament elections Grand Egyptian Museum welcomes over 12,000 visitors on seventh day Sisi meets Russian security chief to discuss Gaza ceasefire, trade, nuclear projects Egypt repatriates 36 smuggled ancient artefacts from the US Grand Egyptian Museum attracts 18k visitors on first public opening day 'Royalty on the Nile': Grand Ball of Monte-Carlo comes to Cairo VS-FILM Festival for Very Short Films Ignites El Sokhna Egypt's cultural palaces authority launches nationwide arts and culture events Egypt launches Red Sea Open to boost tourism, international profile Qatar to activate Egypt investment package with Matrouh deal in days: Cabinet Omar Hisham Talaat: Media partnership with 'On Sports' key to promoting Egyptian golf tourism Sisi expands national support fund to include diplomats who died on duty Madinaty Golf Club to host 104th Egyptian Open Egypt's PM reviews efforts to remove Nile River encroachments Al-Sisi: Cairo to host Gaza reconstruction conference in November Egypt will never relinquish historical Nile water rights, PM says Egypt resolves dispute between top African sports bodies ahead of 2027 African Games Germany among EU's priciest labour markets – official data Paris Olympic gold '24 medals hit record value It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game Russia says it's in sync with US, China, Pakistan on Taliban Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights Sudan says countries must cooperate on vaccines Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19 Egypt to tax bloggers, YouTubers Egypt's FM asserts importance of stability in Libya, holding elections as scheduled We mustn't lose touch: Muller after Bayern win in Bundesliga Egypt records 36 new deaths from Covid-19, highest since mid June Egypt sells $3 bln US-dollar dominated eurobonds Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform

Thank you for reporting!

This image will be automatically disabled when it gets reported by several people.

Recent market rebound leads EGX towards 10,700 points resistance level
Since beginning of year, Egyptians have represented 83.0% of value traded in listed stocks after excluding deals

Alyaa Stohy Published in Daily News Egypt on 24 - 04 - 2021

The recent market rebound has led the Egyptian Exchange (EGX) to reach the 10,700 points resistance level, with the markets facing some reluctance.
This came despite bulls earlier failing to keep their advances, causing the EGX to lose most of its early gains to close at 10,600 points.
Mohamed Othman, Head of Technical Analysis at Pharos Holding, said that the benchmark index EGX30 is expected to reach the 10,700 points resistance level. In case it fails to maintain above the resistance level, this would pave the way for further decline to 10,440 points. On the other hand, the next resistance level to watch lies at 10,935 points.
"Short term traders may lock in trades that achieved or approached their target levels," Othman added.
The EGX30 closed at 10,600.07 points, recording an increase of 4.5%, whilst the EGX70 EWI posted a 10.48% gain, concluding the period at 2,011.75 points. Meanwhile, the S&P index rose by 4.07%, and concluded the period at 1,701.59 points.
The EGX30 capped rose by 3.49% and concluded at 12,893.34 points, while the EGX100 EWI rose by 8.32% and concluded the period at 2,942.05 points.
The total value traded recorded EGP 12.1bn, while the total volume traded reached 2,331 million securities executed over 174,000 transactions last week.
For the week before last, the total value traded recorded EGP 23.1bn, while the total volume traded reached 2,369 million securities executed over 178,000 transactions.
Stocks trading accounted for 36.48% of the total value traded of the main market, while the remaining 63.52% were captured by bonds over the last week.
Egyptians represented 79.2% of the value traded in listed stocks after excluding deals during the period. Foreigners accounted for 13.4%, while Arabs captured 7.4%.
Foreigners were net buyers, with a net of EGP 88.0m, and Arabs were net buyers, with a net of EGP 68.6m, after excluding deals in listed stocks.
Since the beginning of the year, Egyptians have represented 83.0% of the value traded in listed stocks after excluding deals, whilst Foreigners accounted for 10.2%, and Arabs captured 6.7%. Foreigners were net sellers by EGP 713.1m, and Arabs were net buyers by EGP 513.6m, after excluding deals in listed stocks during this year.

Clic here to read the story from its source.