Cairo – Mubasher: The Egyptian Exchange (EGX) expected to continue downside trend on Monday trading session on investors’ concerns over number of upcoming local and international economic events, technical analysts told Mubasher.
The benchmark index EGX30 targets the level of 7,700 points until the availability of new strong catalysts that enhance its forward movement towards the level of 8,000 points, said Mohamed EL Nagar, Head of Research at Marwa Securities.
“The market may witness weak trading values near the level of EGP 400 million,” added EL Nagar.
Earlier, Pharos Research stated that the Central Bank of Egypt (CBE)may raise key interest rates by 1% in its upcoming Monetary Policy Committee (MPC).
The Egyptian Exchange (EGX) closed on negative zone in the previous session as its benchmark eased 0.79% or 62.84 points to close at 7,916.41 points.
