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EGX to show mixed performance this week – Analyst

EGX to show mixed performance this week – Analyst
Photo Credit: Arabianeye-Reuters

The Egyptian Exchange (EGX) is expected to show mixed performance through this week's trading amid the continuous absence of any catalysts in addition to the stocks' attempts to reach resistance levels where they may witness more selling operations, technical analysts told Mubasher.

"The benchmark index EGX30 will gain support at the levels of 8,575 and 8,100 points, while it will face resistance at the levels of 8,900 and 9,050 points," said Mona Mostafa, technical analyst at African Group brokerage.

The small and mid-cap index EGX70 will gain support at the levels of 483 and 471 points, while it will face resistance at the levels of 496 and 505, noted the analyst.

The EGX’s indices rebounded in Thursday's late trading, while the market capitalisation recorded nearly EGP 507.3 million.

The benchmark EGX30 advanced 1.18% to 8,731.29 points.