Cairo – Mubasher: Stock market analysts expect the Egyptian Exchange (EGX) to extend its sideways performance on Wednesday.
Market analyst at Mubasher International for Securities Shahd Raafat said that the market's main index ended Tuesday’s session in green and managed to record a new high to close nearly at 13,700 points on good volume.
Raafat added that sustaining above this level will push the index towards 14,000 points.
Meanwhile, technical analyst Ayman Fouda expects the main gauge to have resistances at 13,700, 13,770, and 13,850 points, while the support levels are likely to be 13,600 and 13,544 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistances at 695 and 700 points, and has supports at 682 and 675 points, Fouda added.
The EGX30 index rose on Tuesday by 1.49% or 201.23 points to the level of 13,684.27 points.
