EGX30 fell 2 percent in December, to rebound in January

Tuesday 01 January 2019 03:45 PM

Egyptian Stock Exchange
Egyptian Stock Exchange

By Mona Abd El-Bary
The Egyptian Stock Exchange ended December's trades on a mixed note amid limited marketing capital losses, as analysts expect it to rebound during January. 
In December, the marketing capital shaved EGP1.3bn, as the benchmark EGX30 main index fell by 2 percent to 13036pts, while the broader EGX100 rose by 1.2 percent to 1727pts, and EGX70 by 1.7 percent to 694pts. 
EGX30 is expected to rally during the early days of the new year on the backdrop of positive news circulated about the macro-economy and some companies. 
" EGX30 will hover around 13500 and 12700pts amid upward moves led by overweight stocks in early January," said head of technical analysis division at Aman Securities Mohmed El-Asar.
Shares of the International Commercial Bank is expected to move toward EGP87.5, El-Sewedy Electric toward EGP19.5, Orascom Investment toward EGP62, Heliopolis Co. for Housing & Development toward EGP21, Global Telecom toward EGP4.25, and KIMA toward EGP7.40, he added. 
Transports and logistics will lead the upward trend in January, as Egy-trans Company is expected to move toward EGP10, and the Arab United Freight Company toward EGP10.