Cairo – Mubasher: Stock market analysts expected the Egyptian Exchange (EGX) to extend its sideways performance on Wednesday as the benchmark EGX30 index is targeting the mark of 13,500 points.
Market analyst at Mubasher International for Securities Shahd Raafat said that the market's main index declined slightly on Tuesday to 13,334 points, noting that it is expected to move sideways between 13,300 and 13,600 points.
Meanwhile, technical analyst Ayman Fouda expected the main gauge to have resistances at 13,493, 13,518, and 13,544 points, while the support levels are likely to be 13,330, 13,240, and 13,150 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistance at 668 points, and has supports at 660 and 654 points, Fouda added.
The EGX30 index fell on Tuesday by 0.72% or 96.28 points to the level of 13,334.78 points.
