Cairo - Mubasher: The Egyptian Exchange (EGX) indices are expected to witness sideways movement on Tuesday, technical analysts told Mubasher.
The benchmark index EGX30 declined on Monday to retest the resistance levels of 6,640 and 6,700 points, said Mona Hassan, chief technical analyst at MubasherTrade.
The main gauge went down in the previous session late trade on institutions sells-off over leading stock, said Hanan Ramsis, executive director at Cairo Securities Brokerage.
The recovery of the market liquidity may push the market up on Tuesday, noted the analyst.
EGX indices were mixed on Monday as EGX30, fell by 0.87% to close at 6,777.8 points, hurt by the heaviest weight CIB that dropped by 3.5% to EGP 45.4.
Market capitalization declined EGP 2.8 billion to EGP 427.7 billion, compared with EGP 430.5 billion on Sunday.
