Egyptian stock market (EGX) investors are currently preoccupied with the dollar crisis and how it will turn up, Saeed Eweidy, financial markets analyst, said in a statement to MEO.
Abo Bakr Imam, Head of Research Department at Prime Holding, said EGX’s benchmark index EGX 30 swings on the short-term between levels of 5500 and 6300 points.
Imam pointed out, in a statement to MEO, that bouncing off support levels at 5900-6100 points during this period pushes EGX 30 to re-face support level at 6300 points. There will be a clear drop in trading value since it is a common feature of fluctuation trends.
Weekly report by EGX shows that it made, during last week’s trading, profits of nearly EGP 300m only. Market capitalization of listed stocks on EGX registered about EGP 386.22bn by the end of the week with a 0.1 per cent increase than the previous week in which it registered about EGP385.92bn.
During the week, most active companies in EGX were Orascom Telecom Media and Technology Holding (OTMT), Porto Group, Amer Group, Palm Hills Developments, Global Telecom Holding, Arabia Investments, Development and Financial Investment Holding Company (AIND), Qalaa Holdings (CCAP), Talaat Moustafa Group (TMG) Holding, Emaar Misr, and Elsaeed Contracting and Real Estate Investment Company SCCD (UEGC), according to EGX weekly report.
