Cairo - Mubasher: The Egyptian Exchange (EGX) benchmark index EGX30 is still continuing its attempts to cross the level of 7,500 points, but it is hindered by lack of liquidity, said Ahmed Thabet, head of technical analysis at Tycoon Brokerage.
The benchmark is likely to retest the levels of 7,250 and 7,280 points, on the recovery of the market liquidity, added the analyst.
"The benchmark succeeded, through the last three previous sessions, in closing above the level of 7,325 points, which is considered a positive sign although it didn't break above this level yet due to thin liquidity," said Mona Hassan, chief technical analyst at MubasherTrade.
EGX ended in red territory on Tuesday, while the market capitalisation lost nearly EGP 1.4 billion ($174.1 million) on selling spree.
The benchmark index EGX30 fell 1.05% or 77.53 points to 7,331.53 points.
