Cairo – Mubasher: The Egyptian Exchange (EGX) is forecast to target the 12,770-13,000 zone over the coming sessions on investors’ appetite for buying certain stocks, real estate ones in particular, analysts told Mubasher.
“Selective purchases are likely to lead Cairo bourse higher over the coming session, namely the real estate sector”, said market analyst Ahmed Abd Al-Hamid, expecting EGX benchmark to hit 13,000 points next week.
Market analyst Ahmed Al-Bagory anticipates the main index to target the coming short-term level at 12,630 after staying above the barrier of 12,540 points.
MubasherTrade Research said, “The index continued rising to close at 12,608 recording a new high gaining 1.47% on average volume”.
The research agency see “in case it holds above the level 12,540 further rise towards the next target 12,850 is expected”, advising investors to free trade as long as the main gauge holds above 12,180 points.
