Cairo – Mubasher: The benchmark EGX30 index of the Egyptian Exchange (EGX) is forecast to move sideways between 12,700 and 13,000 points on Tuesday, analysts told Mubasher.
Market analyst Ahmed Abdel Hamid said that the main index is trying to test the level of 12,800 then 13,000 points, with a support at 12,700 points.
Meanwhile, technical analyst Mona Mostafa said that the stock market’s performance is still uncertain after the Palm Sunday attacks in Alexandria and Gharbia governorates.
On Sunday, more than 40 people were killed and dozens were injured in two church attacks in Alexandria and Gharbia governorates.
The EGX30 index is facing resistances at 13,035 and 13,300 points, and has supports at 12,830 and 12,700 points.
The small- and medium-sized enterprises index EGX70 is expected to face resistance at 596 and 600 points, while its support level is 587 points.
The main gauge fell on Monday by 0.36% or 47 points to the level of 12,848.56 points.
