Cairo – Mubasher: The Egyptian Exchange is expected to show a positive performance in Thursday’s trading session, powered by yesterday’s cabinet reshuffle and the debut of Domty stock.
Cairo bourse closed Wednesday’s session higher 0.88% to 7,495.5 points with a trading value of EGP867.6 million.
EGX30 is likely to keep going upwardly to the levels of 7,600 and 7,720, said Ayman Fouda, head of capital market committee at the African Economic Council, pointing out that the first support level for the index will be at 7,360 points.
Likewise, Ehab Said, managing director-branches at Osool Securities, said EGX30 is likely to hold onto its uptrend till the level of 7,609. However, EGX30 upturn may be hindered by profit-taking, he added.
Mohamed Ismail, technical analyst at Golden Hand Securities, also said the benchmark is moving upward near the resistance level of 7,700, clarifying that EGX30 may see correction if it breaks below 7,350 points.
