[ad_1]
© Reuters. The stock market should continue to slide to 13,377 points, pending the periodic review of its indices
"Jamal Aldin": the weight of the end of the withdrawal led by the "shares" in the face of the lack of liquidity
The stock market was calm at the beginning of the negotiations, investors were waiting for the periodic review of index securities to recycle the liquidity whose stock market had suffered from the loss of the period elapsed, as well as the recycling of the liquidity of the transaction from Global Telecom and the completion of an immediate offer.
Money market traders have suggested that the stock market should complete its declines, which will be mainly due to the impending decline of "Commercial International" shares, in light of the contraction of the average trading volume to less than 400 million. books.
The main index of the stock market closed down 0.28% Monday to establish at 13421.9 points, and the index of equilibrium fell 0.81% for to establish at 1985,16 points.
Adham Jamal Aldin, director of technical badysis at Cairo Capital Securities, said the market had suffered in recent trading sessions a significant and repeated low trading volume against the negative performance of the main index, which had broken the level of 13500 points, which had led to the emergence of a new bearish goal at 13377 points, which corresponds to the movements of Faisal in the index.
He explained that, in market-weighted scenarios, it exceeded 13,377 points of the 12,000-point test, rising from 13,000 and 1,2600 points in the medium term, given the still negative performance of "International trade".
Adham added: "The weighted declines in the index will mainly be due to the decline in international trade stocks with a relative recurrence of the rest of the shares, particularly shares of Ezz Steel, Sidi Kerir and Palm Hills. , which have reached high levels of demand will not decline significantly, which should remain stable in the future.
He believes that the capital market is suffering greatly from the decline in trading volumes and the negative trend, which is likely to be the result of most of these transactions by brokers and the individual trading system during the same session, to generate very little profit and try to continue on the market.
The average-sized stock index fell 0.42% to close at 524.53 points, while the index rose 0.5% to close at 16,468.7 points, and 39, broader index fell 0.43% and stable at 1356.7 points.
As for the SME index, Mr Adham believes that it is a significant drop due to the impact of the decision to cancel the dumping rights on the pallet on the shares of Ezz Dekheila, which is expected to continue to experience negative movements to test the levels of 500 and 470 points.
The market recorded a market value of 389.66 million EGP when trading 97.9 million shares, of which 13,300,000 sales and purchases. After trading in the shares of 174 restricted companies, 40 shares were advanced, 84 shares decreased and 50 shares decreased. Stabilize the market capitalization of subordinate shares at a level of 720.02 billion pounds.
According to Hisham Hbadan, director of the investment department of Royal Securities Brokerage, Egyptian and Arab pressures have been causing sales pressure during the session yesterday. Institutions, investment funds and foreigners also took advantage of the opportunity to buy Arab shares.
He added: Arabs are still on the sidelines of the Egyptian market and their situation differs from that of medium and long-term investors.
He said the capital market is waiting to close the market for special offers on the company "Global Telecom" in anticipation of recycling the liquidity of the transaction, as well as the introduction of the "immediate", which has resulted in lower trading volumes.
He pointed out that investors expect to re-evaluate market indices after the periodic review of tomorrow's index shares, which will increase the value of trading and recycling of liquidity within stocks, adding that principal stocks currently constitute a safe haven for investors.
Hbadan believes that the short-term investor is more vulnerable to volatility and that medium- and long-term investors have a strong market opportunity, advising investors to focus on companies with high financial solvency and equity. 39, avoid using margarine.
Arab investors were net buyers at 26.31 million EGP, or 7.08% of total buy and sell transactions, while net buyers and foreigners realized respective gains of 3.3 , 3 million EGP and 23.1 million EGP, gaining 68.38%. And 24.54% of the exchanges.
Individuals executed 53.89% of all transactions, but Egyptian individuals preferred to sell at 46.11% to EGP 22.68 million, with the exception of Arab institutions that recorded net sales of 13.39 million Egyptian pounds. And net foreign purchase of 25.97 million pounds and 24.74 million pounds, respectively.
[ad_2]
Source link
