Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to witness a return of the correction movement on Tuesday as investors still await the government’s decision over the stamp duty tax on bourse deals, analysts told Mubasher.
The EGX30 index is forecast to decline to the mark of 11,628 points after closing at 12,023 points on Monday, said market analyst Shahd Raafat.
Technical analyst Ayman Fouda said that the main gauge faces resistances at 12,039 points and 12,240 points, and has supports at 11,900 points and 11,700 points on the short-term.
The EGX70 index faces resistances at 482 points and 490 points, while having supports at 470 points and 466 points.
The benchmark EGX30 index fell on Monday by 2% or 245.9 points to the level of 12,023.93 points.
