Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices are likely to keep moving sideways on Thursday, according to analysts.
Market analyst Ahmed Abdel Hamid told Mubasher that the benchmark EGX30 index needs more liquidity to break through the level of 13,000 points and target 13,250 points.
Investors are waiting for a decision by the Monetary Policy Committee of the Central Bank of Egypt (CBE) on the interest rates, Abdel Hamid added.
Technical analyst Ayman Fouda said that the EGX30 index faces resistances at 13,040 and 13,130 points, and has support at 12,880 and 12,745 points.
The small- and medium-sized enterprises index EGX70 is likely to face resistances at 570 and 575 points, while its support levels are 560 and 553 points.
The main gauge rose on Wednesday by 0.04% or 4.9 points to the level of 12,987.65 points.
