Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to break through the level of 12,800 points on Thursday, market analyst Saied Al Feqy told Mubasher.
Al Feqy said that the stock market is witnessing a purchasing power by institutions, with the turnover exceeding EGP 1 billion on Wednesday.
Wednesday’s session saw an upward sideways movement and the index stood above the support level of 12,625 points, said Hesham Hassan, head of technical analysis at Acumen for Securities, expecting the sideways trend to continue during today’s trading.
The benchmark EGX30 index rose on Wednesday by 0.46% or 57.81 points to the level of 12,735.36 points, as the EGX70 and EGX100 indices also grew by 3.26% and 2.44%, respectively.
