Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to move sideways on Monday until catalysts emerge to push its benchmark EGX30 to exceed the mark of 13,500 points.
Market analyst, Saied Al Feqy, said that the index is likely to move sideways between 12,800 points and 13,500 points.
Meanwhile, analyst, Hisham Hassan, said that losing 192 points on Sunday did not effect of the majority of stocks as many stocks closed on positive note.
“Investors are waiting for the Central Bank’s decision this week on the interest rates,” Hassan added.
Technical analyst, Ayman Fouda, said that the EGX30 may test resistances at 13,090-13,200 points.
The main gauge closed yesterday at the level of 12,922.44 points, falling 1.47% or 192.4 points.
