Dr. Hossam Al-Ghaish, an economic expert, stated that the Egyptian stock market is experiencing significant volatility due to escalating geopolitical events. This has impacted the main index EGX30, which dropped below the 31,000-point mark. Al-Ghaish explained during an appearance on the program “Numbers and Markets” aired on the “Azhari” channel that the market is currently hovering near key support levels at 30,269 points and 29,823 points. These levels are expected to see attempts at stabilization and rebound if political and security conditions stabilize. He noted that profit-taking and concerns over regional crises have made local and foreign investors cautious, affecting trading volumes. Al-Ghaish highlighted that essential sectors like energy and food may serve as safe investment havens in the coming period. He emphasized the importance of diversifying investment portfolios and hedging against risks. Continuous monitoring of support and resistance points will determine the market’s short-term trajectory, especially in the absence of strong internal catalysts.
— new from صدى البلد
