Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to witness a positive performance on Sunday, as investors are awaiting for the impact of the application of the stamp duty tax on trading volumes turnover rates, analysts told Mubasher.
Market analyst at Mubasher International for Securities Shahd Raafat said that the index closed at the highest level since February at 13,467 and it is expected to continue rising in order to test the previous top at 13,544 points.
Meanwhile, technical analyst Ayman Fouda expected the benchmark EGX30 to face resistances at 13,485 and 13,544 points, and has supports at 13,399 and 13,260 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistances at 577 and 582 points, and has supports at 570 and 564 points, Fouda added.
