Global Economics names Contact Financial Holding the Fastest Growing Finance Company in Egypt    EGYPS 2022 begins a year of strategic energy dialogue    Egypt's stocks mixed on Tuesday as main gauge EGX 30 falls 0.63%    Egypt works on charting cooperation strategies with international institutions for 5 years: Al-Mashat    Maha karara joins AAIB as Head of Corporate Communications, Sustainability    Over 2.4 million newborns examined for hearing impairment: Health Ministry    Netflix releases trailer of Arab adaption of 'Perfect Strangers' film    Balqees to headline concert celebrating launch of streaming giant LIVENow in MENA    Sawsan Badr to be honoured at Aswan Women Film Festival    Al-Sisi follows up on 'Great Transfiguration Project' in St. Catherine    Cairo, London stress need to strengthen cooperation to face climate change    Foreigners account for 22.6% of Egypt's T-bills issuances in 1H 2021: CBE    MP Abdel Hady Al-Qasby calls government to facilitate and support NGOs    Egypt's ambassador to Italy passes away    Egypt confirms readiness to help African countries face terrorism and extremism    An estimated 235 million people needed humanitarian assistance and protection in 2021, an increase of 40% compared to 2020: IOM Egypt    Egypt, DRC discuss water cooperation during WYF    Egypt, DR Congo discuss boosting bilateral cooperation during WYF    Cameroonian police probe assault on three Algerian journalists covering AFCON    Pharaohs start AFCON 2021 campaign with fierce clash against Nigeria    Foreign Ministry opens capacity building course for French-speaking African diplomats    BRICS development bank admits Egypt as new member    Nermien Ismail Schools opens a new campus in O'West    Netherlands Embassy, E7kky Magazine celebrate success of 21 Egyptian women    Women make up 45% of Egyptian Atomic Energy Authority staff    Yas Island hosts travel partners at Formula 1 Etihad Airways Abu Dhabi Grand Prix 2021    Olaf Scholz becomes Germany's new leader, ending Merkel 16-year historic era    Egypt's trade with Nile basin countries climbs 26% y-o-y in 9 months    The unvaccinated prohibited from entry to Egypt state institutions starting December 1    Egypt's iron and steel exports jump 197% in 8 months    Ethiopia halts work at its embassy in Egypt for 'economic reasons'    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    Brazil calls up 8 EPL players for World Cup qualifying    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    Sisi calls on House, Senate to commence second legislative sessions on 3, 5 October    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    Qa'a play showing at Lycee El Horreya Theatre, Alexandria is a must go    On International Museum Day, Egypt opens two new museums at Cairo Airport    Old Cairo's Al-Fustat will be revamped on Egyptian President's directives    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



EGX eyes breaking 11,500 points resistance level
Published in Daily News Egypt on 04 - 12 - 2021

Stock market experts have said that the Egyptian Exchange (EGX) has the chance to break the resistance level of 11,500 points as long as its keeps trading above November's low 11,180 points.
The benchmark index EGX30 closed at 11,318.35 points, recording a decline of 0.99%st week. EGX70 EWI posted a 3.59% gain concluding the last week at 2,157.56 points, while S&P index rose by 0.8% and concluded the period at 1,835.82 points.
Mohamed Othman, Head of technical analysis at Al Ahly Pharos, said the first resistance level to watch lies at 11,500 points.
If EGX30 breached its latest level, it would pave the way to retest 11,700 points, he added.
Accordingly, he advised short-term investors to be highly selective regarding outperformed shares, while trailing the protective stop to the nearest support according to each stock separately.
Last week, EGX30 capped declined by 0.94% and concluded at 13,399.28 points, while EGX100 EWI rose by 2.52% and concluded the week at 3,136.69 points.
The market capitalization reached EGP 721.7bn. The total value traded last week recorded EGP 16bn through 230,000 transactions on 2.7 billion securities. As for the week before last, the total value traded was EGP 10.7bn through 188,000 transactions on 1.7 billion securities.
Stocks accounted for 39.68% of the total value traded on the main market, while bonds constituted the remaining 60.32% over the last week.
Egyptians made 69.2% of the value traded in listed stocks after excluding deals. Foreigners accounted for 22.8%, while Arabs captured 8.0%. Foreigners and Arabs were net sellers with a net of EGP 288.2m and EGP 11.4m, respectively, after excluding deals in listed stocks.
Since the beginning of the year, Egyptians accounted for 82.4% of the value traded in listed stocks after excluding deals, while foreigners had 10.4% and Arabs 7.1%. Foreigners were net sellers by EGP 5.88bn, while Arabs were net buyers by EGP 2.35bn, after excluding deals in listed stocks during this year.


Clic here to read the story from its source.