Cairo – Mubasher: The Egyptian Monetary Policy Committee's (MPC) decision on key interest rate today is likely to have a significant impact on Cairo bourse in Thursday's trading session, analysts told Mubasher.

Market analyst Ahmed Al-Bagory said the equity market suffers from a profound lack of positive data that earlier pushed the main index EGX30 to the lowest level this month at 7,916 points, which is a min support area presently.

Therefore, traders are closely watching the central bank's decision over key policy rates, which could have, if hiked, negative consequences on the Egyptian Exchange (EGX), Al-Bagory indicated.

MubasherTrade Research noted that the EGX30 ended yesterday on a lower note after "the bears controlled the second half of the session, leaving the long positions in danger of breaking below 7,900 one more time."

Traders are advised to "watch the stop loss level 7,900 and the interim support 7,850 as a "stop loss" trigger", the research firm stated adding, "those who are in cash are recommended to stay out of the market until the vision becomes clearer".