Cairo – Mubasher: The forthcoming Eid al-Adha long vacation expected to overshadow the market performance through Thursday trading session, technical analyst told Mubasher.
“The market is likely to extend the sideways trend, where number of institutions and mutual funds tend to build buying positions at selected stocks before the end of the last session before Eid al-Adha vacation,” Ayman Fouda, head of capital market committee at the African Economic Council told Mubasher.
The investors anticipates new catalysts following the upcoming vacation, said Ahmed ELBagory, Head of technical analysis at Okaz securities.
“The market ability to continue in maintaining its position above the level of 8,100 is major aspect,” added ELBagory.
The Egyptian Exchange closed on negative note on Wednesday amid selling pressures by local institutions.
