Cairo – Mubasher: Stock market analysts expected buying momentum to continue on blue chips of the Egyptian Exchange (EGX) as the benchmark EGX30 index is getting closer to 14,000, a level at which the stock market will witness profit-takings.

Market analyst at Mubasher International for Securities Shahd Raafat said that the market's main index continued rising on Monday to close at 13,956 on average volume.

“We have reached a target nearly 14,000 and by reaching, this point taking profit might take place. We recommend locking some profit at the current levels,” Raafat added.

Meanwhile, technical analyst Mohamed Ismail said that the main gauge is likely to face resistances at 14,250 and 14,600 points.

The EGX30 index rose on Monday by 1.02% or 140.55 points to the level of 13,956.32 points.