Cairo – Mubasher: The Egyptian Stock Exchange is likely to stay in the green zone in Monday’s trading session, powered by Sunday’s bull-run, analysts expected.
The benchmark is expected to move up, targeting the level of 6,270 points, said Mona Hassan, a technical analyst at Mubasher Trade.
Last week, the main index was moving sideways with a tendancy to go down, clairfied Ehab Said, head of technical research at Mubasher Trade, adding that market liquidity also saw a slide due to the lack of positive atmospheres.
But following the relatively strong Sunday’s kick-off, EGX30 may stand above 6,260 points and target the level of 6,400 points amid the positive performance of external equity markets and increasing oil prices, Ehab Said anticipated.
On Sunday, Cairo bourse closed the session on a positive note as EGX rose 2.06% to 6,214.94, backed bythe purchases of nationals.
Translated by Ahmed El-Sayed Ali
