Egypt Bourse Resumes Trading, In Full Alert to Cabinet Reshuffle Repercussions

A number of capital market experts in Egypt is expecting that the indexes of Egypt’s stock market will witness on Tuesday’s trading session a downswing performance as a state of alert is haunting the market awaiting the expectant cabinet reshuffle besides the beginning of launching the stamp tax on the EGX’s daily selling and buying transactions.

The experts believe that as the stamp tax will be coming into effect this week, it will represent an extra reversal pressure on the indices’ movements. The Egyptian Exchange’s benchmark, EGX30 is likely to waver between the levels of 5300-5150 points. 

The experts feel worried that the coming cabinet reshuffle would not satisfy the country’s growing opposition resulting in witnessing potential wave of violent protest once again.