Cairo – Mubasher: The Egyptian Exchange will likely see continued selling pressures on equities, said technical analysts, adding that the benchmark index may test the 7750 level.

EGX30 fell 1.46% or 116.96 points on Monday to close at 7,887.87 points, extending a slide to the second successive day.

“The index continued declining with moderate volume to close at 7,887 and it is expected to continue towards next support 7,750,” said Mona Hassan, chief technical analyst at MubasherTrade.

Hoda El Manshawi, head of branches at Egyptian Group Securities, said the local stock market will likely see strong fluctuations till the end of July, amid institutional pressures and weak liquidity that may allow ‘smart cash’ to seize opportunities ahead of an expected rise in early August.

Meanwhile, Ahmed Thabet, technical analyst, said EGX30 may steady above 7800 points to rest 8100 points.