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Egypt's stocks continue downturn on Tuesday amid local selling

Ahram Online , Tuesday 12 Apr 2016
Egypt
Egypt's stocks (Reuters)
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Egypt’s main index inched down on Tuesday for the third session in a row with local investors registered as the only net sellers.

The stock market’s benchmark EGX30 declined slightly 0.16 percent to 7,331 points in a trade that witnessed the plunge of four major sectors; telecommunications, food and beverages, financial services and banks.

Out of 170 securities listed for the day, 75 shares saw gains and 49 went down.

Daily turnover was modest registering EGP 437 million.

The listed heavyweight lender Commercial International Bank (CIB) dipped 0.55 percent to close at EGP 39.49 per share.

Real estate developer Talaat Moustafa Group (TMG) dropped 0.49 percent to close at EGP 6.13 per share.

Global Telecom (GT), the most traded share for the day, was down 0.34 percent to 2.93 per share.

Egypt’s leading listed investment bank EFG Hermes edged up 0.52 percent to close at EGP 9.58 per share.

Broader index EGX70 closed up 1.07 percent.

(The official exchange rate $1 = EGP 8.78)

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