Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to extend bearish trend through the rest of this week's trading session, said Amr Hussein Elalfy, Managing Director, Global Head of Research of MubasherTrade.
EGX decline will coincide with the decline of Global markets after Paris bloody attacks as well as the upcoming Federal Reserve meeting that is expected to raise interest rates, pointed out Elalfy.
The market declines attributed mainly to the investors increasing concerns, especially the funds' managers and the short -term investors that adopt collective selling trend, he noted.
Long-term investors may capitalize on this market conditions and start to build new positions, added Elalfy
EGX indices moved lowered in Sunday's early trade, as the benchmark index EGX30 dropped 2.7% or 186 points to 6,620 points.
