By: Heba El-Kordy

Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to carry on its sideways performance, analysts told Mubahser.

The benchmark EGX30 index is expected to see positive performance, aiming to break above 13,700 points, capital markets expert Toni Kamal said.

He added that the EGX30 index may test the level of 14,000 points by the end of September.

The small- and medium-sized stocks EGX70 index is likely to see 780 and 800 points after breaking above 770 points, Kamal highlighted.

The Tourism sector is anticipated to continue leading the EGX’s sectors, followed by the banking and petrochemical sectors, the expert noted.

Moreover, branch manager at Osool ESB Securities Brokerage Saeed El-Feki forecasted the EGX30 to maintain its positive performance on the back of blue chips, especially Commercial International Bank Egypt (CIB), after the completion of the profit-taking operations it faced.

The EGX70 index is likely to see profit-taking to get closer to 750 and 760 points, and it may target 790 points, El-Feki added.

Translated by: Mai Ezz El-Din