Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to see a sideways movement, amid anticipations of positive catalysts, according to an analyst.
The EGX30 index is expected to reach 8,300 points on Wednesday.
The EGX30 slightly rose on Tuesday and some blue chips saw a volatile trend, according to market analyst at Mubasher International for Securities Shahd Raafat.
Commercial International Bank (CIB) witnessed a stable performance on Tuesday as compared to EFG-Hermes Holding and Talaat Moustafa Group (TMG) Holding which closed higher, whereas Global Telecom was the worst performer, the analyst noted.
The EGX30 is expected to reach 8,300 points, Raafat said, adding that a break above such level will led the index to reach 8,400-8,450 points on the short-term.
