EGX to pursue a rally started lastweek: analysts

Saturday 09 February 2019 10:40 PM

EGX Building
EGX Building

By Mona Abd El-Bary

The Egyptian Stock Exchange is set to rebound this week on the backdrop of selective upward moves of stocks of three sectors, according to analysts.

Some stocks of real estate, petrochemicals companies and banks are set to soar this week, thus operating as catalysts for rallies.

EGX rose remarkedly last week in terms of trading volumes, indices and marketing capitalization on the backdrop of corporate and private purchases.

" Shares of the Commercial International Bank is expected to rise to EGP92 versus EGP88.8 late last week, Abu Dahbi Islamic Bank to EGP13.50 versus EGP12.3 last Thursday, Amer Group to EGP0.89 up from 0.85 last week, Palm Hills to EGP2.70 up from EGP2.5 on Thursday, and Abu Qir Fertilizers to EGP28 up from EGP26.29," said head of technical analysis at Aman Securities Mohmed El-Aaser.