Cairo - Mubasher: The Egyptian Exchange (EGX) is expected to open on negative note in Thursday's early trade, on moving the price limits over the stocks of the Commercial International Bank (CIB), technical analysts told Mubasher.
"The benchmark index EGX30 closed at the level of 6,629 points amid average trading volumes on Wednesday and it is expected to move towards the support level of 6,640 points," said Mona Hassan, chief technical analyst at MubasherTrade.
The investors are advised to capitalise on the recent stocks' declines through building positions, noted Hassan.
The market may move lower, temporarily in Thursday's early trade, due to moving the price limits over the shares of the CIB, but it will rebound again by late trade, said Mohamed Radwan, technical analyst at Arabia Online Brokerage.
EGX indices rebounded in Wednesday’s late trade, as the benchmark index EGX30 gained nearly 21.31 points or 0.32% to close at 6,629.3 points.
