EGX rose slightly amid purchases led by foreigners

Thursday 14 February 2019 10:33 PM

EGX Building
EGX Building

By Ragab Ezz El-Deen
The Egyptian Stock Exchange rose slightly on Wednesday's trades amid heavy purchases led by the Arabs and foreigners. 
EGX30 rose by 0.14 percent to 14949pts, EGX70 by 0.38 percent to 713pts, the broader EGX100 by 0.31 percent to 1800pts, EGX50 by 0.23 percent to 2405pts, and EGX30 Capped by 0.02 percent to 18868pts. 
Stock traded today reached EGP1.3bn, as Arab corporations, Arab and foreign investors bought stocks worth EGP77.3mln, EGP7.7mln, and EGP9.1mln respectively, whereas Egyptians, Egyptian and foreign corporations sold stocks worth EGP74.2mln, EGP19.6mln and EGP365,000 respectively. 
Out of 179 stocks, 87 rose, 67 fell and 25 remained unchanged. 
 EGX30 is facing major resistance at  the level of 15100pts - 15200pts, according to analysts, as they  predict the index  cross this level during the remaining sessions of this week.  
" EGX30 will find it extremely difficult to cross the level of 1500-1600pts," said head of technical analysis division at Osoul Brokerage Ihab El-Saad, predicting big sell-offs to appear at this area, obstructing the index's march towards  15200pts level.