The Egyptian Exchange (EGX) drew varied expectations from analysts for its Monday performance, as its indices and leading stocks are approaching major support levels, technical analysts told Mubasher.

"The benchmark indexEGX30 is expected to follow sideways-upward trend ,as long as the institutions resumed building buying positions ,which may push the blue chip upward to their next targets," said Mona Mostafa, technical analyst at African Group brokerage.  

The analyst noted that the benchmark will gain support at the levels of 8,555 and 8,450 points, while it will face resistance at the levels of 8,780 and 8,820 points.

EGX indices declined collectively on Sunday, as the market capitalisation lost nearly EGP 3.5 billion ($465.4 million) amid a selling spree from both local retail investors and local institutions.

The benchmark index EGX30 fell 1.12% or 97.43 points to close at 8,633.86 points.