Cairo-Mubasher: The Egyptian Exchange(EGX)is expected to witness sideway movements on Thursday, as the market continues its cumulative performance.

The benchmark index EGX30 targets the level of 7,500 point after it finished the accumulating trend, said Mohamed Gaballah, head of trading at Tawfik Securities Brokerage.

The level of 7,530 points will determine the direction of the benchmark on the short run, added Gaballah.

The benchmark edged down to close at 7,150 on the previous session and it is still expected to move between the levels of 7,000 and 7,200 points, said Mona Hassan, chief technical analyst at MubasherTrade.

On Wednesday, the EGX indices reiterated collectively , as the market capitalisation lost nearly EGP 1.2 billion ($154 million) amid local and foreign sell-off.