Cairo – Mubasher: The Egyptian Exchange is likely to keep running bullish and to further cross the mark of 7,535 points on EGP devaluation hopes, said analysts.
By crossing the level of 7,535 points targeted today, the main index will confirm its uptrend on the short run, said market analyst at EGS Brokers Hoda El Menshawy.
Ahmed Abdel Hamid, managing director at Watheeqa Securities Brokerage, expected the main gauge to test the mark of 7,540 points with a temporary correction to keep sloping upwardly.
Investors’ buying appetite is also forecasted to grow stronger after the CBE governor stated that factories’ operation is more important than stabilizing the exchange rate, alluding at the same time to possible devaluation of the Egyptian currency.
