Economy

The main index of the stock market is at the level of 11,262 points, as a result of the strong rise of most of the leading shares

Aya Hussein

1667497236834El-Feky expects the Egyptian Stock Exchange to be the first target for investment

The main index of the Egyptian Stock Exchange closed at the level of 2280 A point as a result of the strong rise of the majority of the leading stocks, especially Commercial International, Fawry, Talaat Mustafa, Ezz Steel, Hermes.

He said that these shares represent more than 50% of the relative weight of the main index, so its rise had a significant impact on the index’s performance. The president who reached during the week’s sessions near a resistance level at 2280 my point 11450 a point and the breach of this level And the above stability pushes us to a level

in the coming period and this is expected, but with the strong rises that occurred after the decisions to move the exchange rate and the strong and continuous rise, it was natural that profits would take place. Slightly near the aforementioned resistance levels, and I still this is what actually happened during the last two sessions n the week.

At the beginning of the week, Al-Fiqi expected the return of the formation of new purchasing centers in these areas and the return of a level targeting 11450 A point and then 11750 a point during the coming period, as the Egyptian stock prices are an opportunity to seize in light of their current prices, especially with the rise of the strong The purchasing power that was for the dollar and the decline in the purchasing power of the pound and foreigners are well aware of this, so the coming period will witness more liquidity injections and a rise in trading volumes and consequently a rise in the price level. I expect that the Egyptian Stock Exchange will be the first target for investment during the coming period.

Al-Fiqi said that the index of small and medium stocks did not enjoy the same percentages as the main index, as it closed at the end of the week’s trading at the level of

Now I have a resistance level at 2280 and a support level at

Point.

Al-Feki Expected Targeting Level 2280 A point during the coming period and the interaction of the shares of the seventy index with the strong rises of the thirty index.

Said El-Feki expected that the Egyptian Stock Exchange would be the first target for investment.