Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to rise on Wednesday as investors await the finance ministry’s decision on the stamp duty tax, analysts told Mubasher.
Market analyst Saied Al Feqy said that the EGX30 index may move towards the level of 12,800 points and 13,000 points, noting that the expected rise depends on the decision on the stamp duty tax.
Al Feqy warned about the consequences of the stamp duty tax, which led to a fall in the trading value to EGP 200 million after previously imposing it.
Technical analyst Ayman Fouda said that the main gauge faces resistance levels at 12,810 points and has a support level of 12,300 points.
The EGX30 index rose on Tuesday by 1.72% or 213.64 points to the level of 12,657.82 points.
