The Egyptian Exchange (EGX) saw a positive performance during the week that ended 15 March, supported by the buying activity of foreign investors.
The second week of March saw the benchmark index reach a new record high at 17,000 points, as the capital market reached its highest level ever.
The main index EGX30 rose 2.3%, gaining 526.8 points, as it closed at the level of 16,999 points, with weekly trading volumes reaching 1.5 billion shares, with a total turnover of EGP 9.1 billion.
The market cap ended the week at EGP 972.4 billion, adding EGP 14.5 billion, compared to EGP 957.9 billion by the end of the previous week.
The small and medium enterprises EGX70 went up 0.56% to 899.82 points, while the broader index EGX100 increased by 1.27% to end the week at 2,117 points.
The equal-weighted index EGX50 closed at 2,836 points, rising by 2.38%.
Analyst Sameh Gharib of the Roots Stock Brokerage House told Mubasher that the main index was supported by the strong purchasing power, especially on the blue chip stocks.
EGX30 is now targeting the resistance level at the level of 17,100 points, followed by 17,500 points, while the support levels are now at 16,750 and 16,400 points, Gharib noted.