Cairo – Mubasher: The Egyptian Exchange (EGX) is expected to extend its rise with a target towards 12,600 points, should it maintain its position above 12,300 points, analysts have said.
The EGX30 index hit its 12,300-point target and succeeded in closing above it on Wednesday, commented Mohamed Khedr, technical analyst at Prime Securities, adding that this will prompt a further rise towards 12,600 and 13,000.
Meanwhile, Shahd Raafat, technical analyst at Mubasher International for Securities, expected the benchmark index to rise towards 12,500 points.
The EGX ended Wednesday in the green, on the back of a collective rise of its sectors backed by foreign and Arab purchases. The index surged 1.8% or 219.01 points and closed at 12,366.96 points.
The EGX70 index added 0.23% to 462.19 points, while the EGX100 index was up 0.33% to 1,097.32 points, yesterday.
