Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices are expected to move sideways on Wednesday after the vacation of the Sinai Liberation Day on 25 April, analysts told Mubasher.
Market analyst at Mubasher International for Securities Shahd Raafat said that the benchmark EGX30 index closed on Monday at the level of 12,583 points, amid a moderate trade volume.
Technical analyst Ayman Fouda expected the EGX30 index to face resistances at 12,650 and 12,745 points, while the supports are likely to be 12,500 and 12,410 points on the short-term.
The small- and medium-sized enterprises index EGX70 is forecast to face resistances at 590 and 597 points, while its support levels are expected to be 582 and 577 points, Fouda added.
Meanwhile, analyst Saied Al Feqy suggested that the main index will move sideways between 12,450 and 12,750 points.
The EGX30 index dropped on Monday by 0.30% to 12,583.13 points, as the EGX70 and EGX100 indices also fell 0.22% and 0.19%, respectively.
