Egyptian Stock Market witnesses positive movements this month

Analysts experts in capital markets, say that the Egyptian Stock Exchange is witnessing positive movements during the session, on Thursday, after a positive news of (Saudi Arabia to increase investments in Egypt by about 8 billion), adding that the investors are waiting for the decision of the Monetary Policy Committee of the Central Bank of Egypt on interest rates, after the Council of US Federal Reserve decided to raise interest rates by 0.25% or 25 basis points, for the first time in 10 years.

It is expected that the optimistic wave on the Egyptian Stock Exchange will continue, supported by the status of optimism among dealers. He The main index has resistance at 6530 - and 6580 points, also targets small and medium-sized stock index resistance at the 362 - and 366 points.

It is worth mentioning that the US Federal Reserve Board announced a rate hike by 0.25, for the first time in 10 years, which involves signal a recovery in the US economy from the financial crisis and the ability of the economy to assume the burden of borrowing.

Specialist advise investors to benefit from any gains and repurchase with a retest of subsidies, and always keep the financial liquidity with the non-use of credit to have the freedom to sell and purchase at the appropriate times. The Monetary Policy Committee of the Central Bank of Egypt, This Thursday; to discuss the interest rates for the first time since Tarek Amer was assigned.

The rise of the Egyptian Stock Exchange, on Wednesday, more than 1% at 6488.5 points, due to the positive news, is notably because of the increase of the Saudi investments in Egypt, in addition to the rise of global markets. King Salman bin Abdulaziz Al Saud, issued his guidance toincrease investments in Egypt by an additional $ 30 billion riyals (about $ 8 billion).