Cairo – Mubasher: The Egyptian Exchange (EGX) benchmark index EGX30 foreseen to test the level of 7,900 points on Monday, Ahmed Abdel Hamid, Managing Director at Watheeqa Securities Brokerage told Mubasher.

The benchmark will target the level of 7,850 points if it moved below the level of 7,800 points, while it will target the levels of 7,960 and 8,030 points if it maintained its position above the level of 7,800 points, added Abdel Hamid.

“The market suffers from fluctuating performance as investors await any further announcements by Egypt Central Bank regarding more devaluation of the Egyptian pound against the US dollar,” noted Abdel Hamid.

The level of 7,900 points will determine the market movement through the upcoming period, pointed out Abdel Hamid.

The market closed on negative note on the previous session as the market capitalization shed around EGP 1.5 billion.