Mixed Performance in Egypt's Stock Market at Sunday's Close

It was a day of mixed performance for the Egyptian Exchange during the Sunday session. Strong buying force from local institutions and investment funds was behind the rather volatile trend that largely dictated the outlook of the market.

At the end of the session, the market capital stood at an impressive LE2.037 trillion, while total transactions reached LE10.787 billion. The benchmark indices of the market showed divergent trends despite high transaction volumes.

The benchmark index, EGX 30, mirroring the performance of the top 30 firms listed on the exchange, slid by 0.57 percent to close at 29,460.24 points, led by a retreat of some its heavyweight components.

On the other hand, the broader EGX 70 EWI, which covers the leading small and medium enterprises, advanced 1.08 percent to close at 6,725.36 points. It indicates the strength and elasticity of SMEs amidst shocks along the broad market.

The broader EGX 100 index, which monitors the performance of a wider number of companies, saw a small rise of 0.64 percent to close at 9,661.9 points, showing that while the market's top performers were selling off, the broader market had not lost its steam.

This Sunday, Egypt's bourse sees a mixed performance that projects different dynamics from its various market segments. Local institutions were at the core of activities that shaped the day's outcome.