Cairo, Egypt - All three major indices rose Tuesday, the middle day of the trading week, to stop a two-day losing streak. However, Egyptian stocks are still down in five of the last seven sessions as small and medium shares again outperformed heavyweight stocks. In a continuing trend that seems to have no end in sight, individual Egyptian investors continued to be the main buyers of the market, while institutions and foreigners were again the net sellers. The main EGX30 index of heavyweight stocks closed 0.33% higher on Tuesday, trimming earlier gains which had reached almost 0.6%. EGX30 stands now at 5393 points, nearly 250 points below the close of business on 27 January when trading was halted for nearly two months at the height of protests that overthrew former President Hosni Mubarak and his regime.

The main index has lost almost a quarter of its value through 2011 so far.

In the meatime, the EGX70 of small and medium shares, the usual preferred target of Egyptian retail investors, was up a strong 1.29 % on Tuesday.

EGX70 stands currently at 644 points and is now  almost 11% down for the year.

The small and medium share index has outperformed the main index, the favorite of institutions and foreigners, since the resumption of trade in the Egyptian Bourse on 23 March after a 55-day halt during the unrest incidents that ensued the peaceful 25 January revolution.

The price weighted index, the EGX100, which is down nearly 15% for the year, gained 0.97% on Tuesday.

EGX100 on Tuesday closed at 991 points, still shy of the key psychological barrier of 1000 points.

Total dealings on Tuesday reached almost US$ 99 million.

In a good day for stocks, 126 shares rose, 50 fell and 12 finished unchanged.

Egyptian stock market authorities have affirmed they will lift extra-ordinary measures imposed on trading after the 25 January revolution, by 1 July.

Pana 29/06/2011