Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to keep fluctuating on Wednesday as a healthy correction movement after the upward streak witnessed over the past sessions, analyst told Mubasher.
The market index limitedly rose yesterday for the fifth session to end below the resistance 11,700 and above the support 11,375, said market analyst Hesham Hassan.
He expected the sideways movement to continue as long as EGX30 stands below the previous resistance.
MubasherTrade Research said, “The index rose slightly closing at 11,502 and it is expected to continue towards 12,000.”
The Egyptian Exchange’s benchmark index (EGX30) finished the mid-week trading session higher 0.7% to 11,502.8 points on foreign purchases.
Market capitalization gained EGP 2.3 billion to close at EGP 569.8 billion.
