Cairo – Mubasher: The Egyptian Exchange (EGX) is forecast to deliver a mixed performance during the mid-week trading session, analysts said, adding that the main index EGX30 is likely to move between 12,600 and 13,000 points.
MubasherTrade Research said, “The index declined slightly closing at 12,781 and it is expected to resume rising towards 13,000.”
Ayman Fouda, head of capital market committee at the African Economic Council, expected foreign institutions to boost the Egyptian bourse, clarifying that the main gauge is facing resistance at the 12,946-13,100 zone while having support at the 12,730-600 area.
Meanwhile, market analyst Said El-Feki indicated that a nature wave of profit-taking is likely to continue, which may lead EGX30 lower to the mark of 12,600 points.
The bourse closed Monday on negative amid local investors’ selling tendency and EGX30 slid 0.86% or 110.23 points to close at 12,781.4 points.
