The Egyptian Exchange (EGX) is likely to resume the upward trend on Thursday, analysts told Mubasher.
Purchasing powers are expected to dominate the indices of the EGX today, head of the capital market committee at the African Economic Council Ayman Fouda said.
The benchmark EGX30 index has resistance at 14,810 and 14,930 points after seeing a rebound at support level of 14,635 points, Fouda highlighted, adding that the index may retest 15,000 points.
The small- and mid-cap EGX70 index has a short-term resistance at 695 and 705 points, while it has support at 677 and 669 points, he indicated.
For his part, head of client relations at Arabeya Online Michael Mamdouh Naguib said that the benchmark is likely to maintain seeing correction despite a rebound witnessed yesterday.
Naguib highlighted that the index has stop-loss limits at 14,600 points and by breaking this support level it may retest 14,300 and 14,000 points.
The EGX30 index has resistance at 14,950, 15,080, 15,200, and 15,320 points, he added.