Stock indexes fell in the third week of the month of July 2016 under the profit-taking on blue chip stocks with operations throughout reduce the pound against the dollar, which Artqubh traders for the second week in a row.The main index "EGX 30" fell by 1.93% to reach the level of 7436.87 points.The decline in small and medium-sized stocks, "Eiji X 70" index of about 0.48% to reach the level of 358 points.He lost the broader "Eiji X 100" index by about 83.0% to reach the level of 763 points.For the index, "Eiji X 20" multi-weights scored a decrease of about 2.35% to 7756 points level.Tarek Amer, the central bank governor said - after the end of the Economic Affairs Committee meeting of the House of Representatives - that he can not talk about float the pound now, and the reduction is due to what he sees the bank in a timely manner, adding that the coming stage will witness more coordination between monetary and fiscal policy of the in order to set the tempo in the currency market.And proved to the Central Bank of the dollar's exchange rate against the pound in its tender league last Tuesday at 8.87 pounds to the dollar, the pound-dollar exchange rate continued to decline in the parallel market dealings Thursday - according to traders - against the backdrop of Governor of the Central Bank of Egypt's remarks, to jump the dollar to 12.25 fairy.And lost. Market capitalization of the listed stocks about 9.4 billion to $ 4.399 billion pounds, compared with 3.404 billion pounds during the previous week for him.Performance accidentalHe said Ehab Saeed director of technical analysis firm trading securities that the benchmark index EGX30 to continue climbing in the direction of the resistance level near 7700-7800 points to 7709 points, but failed to overcome up by profit-taking attacks on the majority of leading stocks in addition to the operations Egyptian install central exchange rate for the second week in a rowHe Said Accidental performance returned to the market again fell after trading volumes recorded the highest weekly average in the three months after the previous governor of the central bank's statements that he had some expected to be submitted for a new cut in the value of the pound.He explained that the week saw a meeting Central Bank Governor Tarek Amer with members of the Economic Committee of Representatives and his remarks after the meeting, and in which he referred to the difficulty of freeing the exchange rate fully during the current period, but did not deny completely the possibility of devaluation of the pound again, and stressed that this measure will be taken in the appropriate timing!"Septuagenarian" awaiting league amendmentAs for the performance of small and medium-sized stock index EGX70 MacKay referred Said he continued his movements offs within narrow ranges, specifically between the level of 357 points, a minimum level of 362 points, a maximum after he failed to overcome the resistance level at 365 points, pointing out that the movement of accidental Spaana "came because of some stocks which is still not reflect the performance of the index, so the recent reform of stocks listed on the index early next month, we expect to change his behavior clearly.He said Ehab Saeed expert financial markets that he was a striking decline in values and volumes of transactions that ranged from about 440-530 million pounds with an average trading values amounted to 485 million his side, compared with the average trading values of hearings last week at 730 million pounds, which was the highest in three months .And it decreased trading value during this week to reach 3.3 billion pounds during the trading of 920 million securities executed over 90 thousand transactions compared to the total trading value amounted to 4.4 billion pounds and volume traded reached 1.22 billion securities executed over 116 thousand transactions during the previous week for him.The decision to stop Alarepettraj "late"According to Dr. Huda Minshawi director of research and analysis, managing director of trading securities that the market is still suffering from the loss of risk appetite influenced by your FSA's decision to prevent the exit of funds through the Egyptian certificates of deposit, which would stop the "Alarepettraj."And "Alorepettraj" allows the transfer of shares between bourses Egypt and London so that they can buy shares from one of the two exchanges and sold in the other, with the possibility of conversion from the pound to the dollar easy and simple procedures, which serves as a gateway to smuggle money out away from the eyes of regulators, because the process is not done in the name its owner, but done in the name brokerages.The General Authority for Financial Supervision announced Tuesday Add new controls to deal on the Egyptian certificates of deposit, which will oblige the owners of these certificates to obtain returns sold locally and the pound, in the case converted to shares and sell them abroad.Minshawi criticized the delay in the decision being taken with the approach of the transferred shares to deposit ratio of the maximum allowed by certificates of financial control, which amounts to 33%, such as Commercial International Bank.Support in the way of indicators pointsAnd the expectations of the performance of stock indexes over the next week's sessions, Ehab Saeed director of technical analysis sees company securities trading market that the main EGX30 index will face a support level near 7,400 points, which he failed to hold above has continued to drop in the direction of the level of 7250-7200 points corrective movement short term after strong gains by successfully achieved recently.The small and medium share index EGX70 will face former support level near 355 points, which is likely to be hampered by the continuing decline continues to spin moves between this level of support and the level of new resistance near 362-365 points
No comments:
Post a Comment