The major stock index tested the level of 9000 points earlier this week

By: Osama Mansoor

Hossam Eid, an expert on financial markets, said the main index EGX30 is expected to test the key resistance level at 9000 as the activity of leading stocks and the trend of Egyptian and Arab financial institutions to buy and open financial centers continues. .

He said that if selling activity appears near the key support level and the key index does not succeed in stabilizing above the 8750 level, the index may move to test the second support level at 8200 points.

He explained that the index of small and medium-sized stocks EGX70 succeeded in closing in the green zone at the end of last Thursday’s trade, trying to test the main resistance at 1700 points, but it closed up to 24.55 points. rose 1.47% to register 1693.76 points, driven by positive performance and the rise and brisk trading of most small and medium stocks. Thanks to the tendency of Egyptian individual investors to buy and open financial centers with small and medium stocks, Arab and foreign individual investors tended to sell.

The financial services sector is expected to return to the forefront of transactions as the stock market returns to action

Will the stock market be affected by the rise in fuel prices? Economist Answer

The combined rise in equity indices and capital was £4 billion

He pointed out that the index of small and medium stocks aims to test the key resistance at 1700 and by breaking and sustaining above it is targeting the second resistance at 1760 points.

See also  Check out the latest car in the market.. Haval Julian 2022 Specifications and Prices

In the last trade of the stock market, financial institutions accounted for 32.37% of the total transactions today and individuals accounted for 67.62% of the transactions.

  • Nadia Barnett

    "Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

    Related Posts

    • Economy
    • November 2, 2024
    • 102 views
    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    The wealth management landscape is undergoing a dramatic transformation, fueled by the rise of financial technology (fintech), according to fintech entrepreneur Emils Kerimovs. No longer exclusive to the ultra-wealthy, innovative…

    UAE Powering Gaming Boom in the Middle East

    The gaming industry in the Middle East is experiencing a growth spurt, with Saudi Arabia and the United Arab Emirates (UAE) among the countries attracting major investments. However, this digital…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Best HydraFacial Clinic in Dubai: The Magic of Radiant Skin

    Best HydraFacial Clinic in Dubai: The Magic of Radiant Skin

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Free Job Posting Sites in the UAE: Perfect for Both Job Seekers and Recruiters

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    Yaroslav Bogdanov: Google in Dubai announced the launch of an artificial intelligence initiative for MENA countries

    How to Choose the Right Mattress: Find the Best Fit for You

    How to Choose the Right Mattress: Find the Best Fit for You

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Emils Kerimovs on Wealthtech Revolution: Investing in the Middle East and Africa

    Forex Brokers Review: Is ITBFX A Safe Broker?

    Forex Brokers Review: Is ITBFX A Safe Broker?