Cairo-Mubasher: The Egyptian Exchange (EGX) is expected to witness a calm trading on Wednesday and Thursday after Eid al-Adha holiday, analysts told Mubasher.
The benchmark EGX30 is likely to move between 8,240 and 8,100 points.
The main indexes are forecasted to exhibit a sideways trend and see accumulation, amid signs of the return of activity to local and foreign institutions, according to Ayman Fouda, head of capital market committee at the African Economic Council.
The EGX30 is expected to witness an upward trend in the short term, he said, adding that the index’s resistance and support stand at 8,240-8,330 and 8,100-8,030 points respectively.
The EGX70 still exhibits a bearish trend in the short term, with its resistance and support levels are seen at 360-365 and 355-353 respectively.
Investors should hold their stocks and closely monitor their performance throughout the rest of this week, Fouda advised.
The bourse resumed trading on Wednesday, 14 September after Eid Al Adha holiday which was from Sunday, 11 September to Tuesday, 13 September.
