Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to trim losses on Thursday, the last trading session of May 2018, amid improved liquidity in blue-chip stocks, analysts told Mubasher.
The EGX is likely to see a calm performance and trim losses following the recent geopolitical tensions, capital market expert Michael Mamdouh Naguib said.
The benchmark EGX30 index may close today’s session above 16,800 points, Naguib added, pointing out that it would be a negative sign if the index ended the session below that level.
The index is expected to retest 17,000 then 17,400 points next week, he indicated.
For his part, head of capital market committee at the African Economic Council Ayman Fouda said that the EGX30 could retest 16,850 and 17,100 points if it settled above 16,760 points and has support at 16,600 and 16,525 points.
The EGX70 index may retest resistance at 870 and 885 points if it surpassed resistance at 855 and 860 points and has support at 840 and 836 points, he highlighted.
