Cairo – Mubasher: The Egyptian Exchange (EGX) benchmark index, or EGX30, is anticipated to move higher on Thursday to test the levels of 6,080 and 6,100 points, said Ahmed Abdel-Hamid, Managing Director of Watheeqa Securities.
“The bourse will resume its positive performance amid the upbeat sentiment that prevails in the market,” added Abdel-Hamid.
The market may witness profit-taking activity if the benchmark moves near the aforementioned levels, noted Abdel-Hamid.
“The main gauge succeeded in moving higher in the previous session amid moderate trading volumes,” said Mona Hassan, Chief technical analyst at MubasherTrade.
The market is likely to extend the current corrective movement, in which the benchmark targets the previous peak at the level of 6,100 points, added the analyst.
On Wednesday, the benchmark gained 1.09% or 64.03 points closing at 5,960.59 point
