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Egypt stocks tumble 1.44% as OTMT, EFG fall

121 out of 172 stocks lost value by the end of Monday's session

Ahram Online, Monday 27 Oct 2014
Egyptian stock market
An interior view of the Egyptian stock market is seen in Cairo (Photo:Reuters)
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Views: 841

Egypt's stocks tumbled on Monday with the main EGX30 index falling 1.44 percent to 8,648.9 points.

Turnover registered LE635.2 million with 121 out of 172 traded stocks losing value by the session’s end.

The market hit a six-year closing high of 9,811 points on 30 September before it began a nearly uninterrupted fall throughout October.

Big cap Commercial International Bank was among the most active shares of the session, dropping 0.15 percent to close at LE46.51 per share.

Orascom Telecom Media and Technology Holding saw a turnover of LE86.8 million and dropped 1.79 percent to close at LE1.1 per share.

The financial sector saw a drop of 2.1 percent with investment house EFG-Hermes falling 2.46 percent to close at LE15.47 per share. 

The real estate sector was the most active during the session, falling 3.19 percent. Six of October Development and Investment (SODIC) saw the highest turnover in the sector at LE52.8 million and dropped by 4.1 percent.

Egyptian institutions were net-sellers with LE86.9 million while non-Arab foreign institutions were net-buyers at LE44.2 million.

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