By: Heba El-Kordy
Cairo – Mubasher: The benchmark EGX30 has been able to break above 15,000 points in Wednesday's mid-trading, after closing in red yesterday.
By 11:49 am Cairo time, the EGX30 jumped 2.075, or 15,022 points, to 15,022 points.
The Egyptian Exchange (EGX) has been on a bull run today, head of technical analysis at Acumen for Securities Hesham Hassan said, referring to a stable performance tomorrow.
The EGX is expected to settle above a certain level, Hassan stressed, assuring that the upward trend that the local stock market currently witnesses is not unreal.
He noted that the EGX would be negatively impacted if the US stock market plunged again.
Hassan recommended investors to be patient and cautious when trading on stocks and creating purchasing positions until the EGX stabilises.
Wall Street closed Tuesday’s trading session up after suffering one-day losses on Monday, as Dow Jones recovered and added 567 points.
Translated by: Mai Ezz El-Din
