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Egyptian stock indices suffered steep losses after Ethiopia announced the start of the second Renaissance Dam filling.
The main index of the Egyptian Stock Exchange “EGX30” fell 1.87% at the end of today’s session, falling to the level of 10154.79 points.
Likewise, “EGX70” fell 2.49% to the level of 2292.85 points, and the larger “EGX100” also fell 2.52%.
Mohamed Lotfy, managing director of Ostool Securities, estimated that the 9300 point level is the most dangerous resistance level for the Egyptian Stock Exchange index.
Lutfi added in an interview with Al-Arabiya that the sensitivity range is currently between 9900 and 10100 points, but the three important resistance levels, 9900 points, 9600 points, 9500 points and 9300 points, are the last most dangerous. of them. No more going back.
Lotfi Khazar described the second filling of the Renaissance dam as “advance information for traders, but next Thursday, regarding a Security Council meeting, remains crucial.”
During the session, the Egyptian Stock Exchange announced the suspension of the listing of 35 shares for a period of 10 minutes, for exceeding 5%, upward or downward, during the first minutes of today’s listing. hui.
Yesterday, the Egyptian Stock Exchange ended its trading on a collective decline in indices, with the exception of the main index, driven by the rise of a number of flagship stocks, but listed stocks ended the session with losses of about 2.3 billion pounds.
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