Cairo – Mubasher: The Egyptian Exchange is anticipated to see less selling pressures on Wednesday, after the benchmark index EGX30 succeeded in keeping its position above the level of 6,000 points.
“The benchmark is likely to test the zone of 6,130 and 6,200 points on the availability of strong purchasing power by institutions over leading stocks,” said Ayman Fouda, head of capital market committee at the African Economic Council.
The benchmark will gain support at the levels of 5,940 and 5,800 points, noted Fouda.
As for the small and mid – caps index EGX70, Fouda pointed out that it will gain support at the levels of 347 and 344 points, while it is expected to face resistance at the levels of 354 and 358 points.
EGX indices declined collectively on Tuesday, as the benchmark index EGX30 lost 2.76% to close at 6,174.7 points on selling pressures by foreign investors.
