Cairo – Mubasher: The Egyptian Exchange is expected to give a better performance than last week’s after Egypt’s institutional liquidly ratios have been flourished on King Salman’s visit.
The two countries have signed 17 agreements, in addition to an investment fund pact worth SAR60 billion (EGP142 billion).
The benchmark closed last week 0.25% lower to 7478.7 points powered by the purchases of institutions.
The equity market is surviving a healthy correction movement amid good performance indicators, namely Arab and foreign investors tended purchase stocks, said Ziad Shata, investor relation manager at Grand Investment, pointing out that EGX70 is likely to decline if Nationals go for selling their stocks.
Moreover, the increase in Saudi investment on Egyptian land may create momentum for Cairo bourse to rise this week, Shata added.
Ayman Fouda, head of capital market committee at the African Economic Council, anticipated that EGX30 to initiate the week on a steady note, and then to move forward, if powered by institutions, to retest the challenging mark of 7650-7670 and finally to stand at 7,800 points by the end of the week.
