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Tuesday, 19 November 2019

Egypt’s stocks down as institutions sell

Security concerns drive stocks down 1.43% on the Egyptian market

Ahram Online , Thursday 26 Feb 2015
Egyptian stock market
An interior view of the Egyptian stock market is seen in Cairo (Photo: Reuters)
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Egypt’s market ended the week in red as institutions were net sellers amid rising security concerns.

Benchmark index, EGX30, dipped 1.43 percent to 9,334 points and daily stock turnover remained on average at LE531 million.

Institutions, which compromised 50 percent of all trade in Thursday's session, were net sellers to the tune of LE69 million.

Earlier Thursday, five bombs detonated in Giza, killing one and injuring at least nine.

Blue chip, Commercial international Bank CIB, dropped 1.15 percent to LE54.9 per share.

Real estate developer, Medinet Nasr Housing, was the only gainer in the main index, inching up 0.44 percent to LE34.5 per share.

Broader index, EGX70, fell 0.88 percent.


 

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