EGX30 rose on Wednesday, to target18000pts this year

Thursday 31 January 2019 09:02 AM

Egyptian Stock Exchange
Egyptian Stock Exchange

By Ragab Ezz El-Deen

The Egyptian Stock Exchange ended Wednesday's trades on an up note amid heavy purchases led by Egyptians.

EGX30 rose by 0.84 percent to 14093pts, EGX70 by 0.19 percent to 687pts, the broader EGX100 by 0.24 percent to 1728pts, EGX50 by 1.28 pecent to 2272pts and EGX20 by 1.36 percent to 14237pts.

Stock trades reached EGP1.2bn, as Egyptian corporations, Egyptians and Arabs bought stocks worth EGP48.5mln, EGP50.9mln and EGP1.2mln respectively, whereas Arab, foreign corporations and foreigners sold stocks worth EGP3.7mln, EGP89.5mln and EGP7.4mln respectively.

Wendnesday's trades ended in the green. Out of 173 stocks, 93 rose, 49 fell and 31 remained unchanged.

" EGX is expected to rally in the short and medium terms on the backdrop of  blue chips' rebounding performance," said head of technical analysis division at Aman Securities Mohmed El-Aasar, predicting EGX30 to head towards 18000pts this year and below 14000pts during the remaining sessions of this week.