Cairo – Mubasher: Cairo bourse is likely to give a flat performance before Sinai Liberation Day, said analysts, anticipating EGX30 to hit the mark of 8,200 points during the week.
On last Thursday, EGX indices collectively saw a slide, weakened by the purchases of Arab and nationals.The main index closed the session 0.24% lower to 7,781.45 points, while market capitalisation lost EGP805 million.
Ayman Fouda, head of capital market committee at the African Economic Council, said EGX indices are likely to move smoothly on Sunday, clarifying that the main gauge is facing resistance at 7,850 - 7,920 points, while having support at 7,730 - 7,660 points.
The small and mid-cap index EGX70, he added, is encountering resistance at the area ranging between 379 - 384 points and having support at 370 - 368 points.
Likewise, Ehab Said, head of technical research at Mubasher, also expected Cairo bourse to see a ramp-up during the week towards the area swinging from 8,000 points to 8,200 points.
Tomorrow, some political powers are expected to hold protests against the concession of Tiran and Sanafir to Saudi Arabia.
