Cairo – Mubasher: The Egyptian Exchange’s main index (EGX30) is expected to test the 8,500 area on Monday following its solid performance over the previous sessions, analysts told Mubasher.  

The EGX30 slightly declined to 8,223 points yesterday with average trading volume, said Shahd Raafat, market analyst at Mubasher International for Securities.

She described this downturn as a normal response after two sessions of firm performance, expecting “the market is heading to 8,500 as long as it holds above the support level 7,993”.

Market analyst Mohamed Khider anticipated this upturn to continue until the benchmark index hits the 8,450-8,500 area.

“No correction movement is likely to occur until the EGX30 holds above the resistance mark of 8,500 points”, the analyst concluded.