Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to continue with its mixed performance on Tuesday, amid the contest between the selling and the purchasing powers after stocks reached appealing price levels, technical analysts told Mubasher.
The benchmark index EGX30 went down on Monday to close at 6,480 points amid average trading volumes and strong selling of Commercial International Bank (CIB) stock, said Mona Hassan, chief technical analyst at MubasherTrade.
The market's sectors and stocks are likely to continue their mixed performance, while some selective stocks are expected to rebound on buying operations seen in Monday's session late trade, said Ayman Fouda, head of capital market committee at the African Economic Council.
The market may regain its positive sentiment if the benchmark moves above the level of 6,500 points, pointed out Fouda.
The main gauge will have support at the levels of 6,420 and 6,380 points, while it will face resistance at the levels of 6,500 and 6,580 points, he noted.
EGX indices ended on mixed note Monday, while the market capitalisation gained nearly EGP 1.38 billion on local institutions buying.
The benchmark index EGX30 fell 0.64% or 41.47 points to close at 6,480.65 points.
