Cairo – Mubasher: The Egyptian Exchange (EGX) is likely to carry on the negative performance in Wednesday’s trading session, in line with investors’ continuous sell-offs.
The indices of the EGX are expected to open today’s session in red territory on the back of selling pressures, head of capital market committee at the African Economic Council Ayman Fouda told Mubasher.
The local market is likely to resume the sideways-to-declining trend until new market-boosting catalysts push investors to pump liquidity into blue chips, Fouda added.
The benchmark EGX30 index has a short-term resistance at 14,849 and 15,070 points, and has main support at 14,580and 14,468 points, he highlighted.
As for the small- and mid-cap EGX70 index, the analyst indicated it has a short-term resistance at 727 and 733 points, while it has support at 716 and 709 points.
