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Egypt's stocks down Sunday as foreigners sell

Despite some shares making significant gains, the EGX30 shed 0.39 percent of its value to close at 8,223 points

Ahram Online , Sunday 7 Aug 2016
An interior view of the Egyptian stock market is seen in Cairo (Reuters)
An interior view of the Egyptian stock market is seen in Cairo (Reuters)
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Egypt’s stocks dipped Sunday, despite shares making gains outnumbering those that faced losses, due to strong selling by foreign investors.

The market’s benchmark EGX30 shed 0.39 percent to close at 8,223 points in a session that witnessed a daily turnover for listed securities worth some EGP478.2 million.

Out of 164 stocks listed for the day, 62 saw gains and 59 dropped. Foreign investors were net sellers to the tune of EGP 23.6 million.

Shares with the largest market cap, Commercial International Bank (CIB) and Global Telecom Holding (GTH), went down 0.18 percent to EGP 49.10 per share and 2.61 percent to EGP 4.10 per share respectively.

The leading real estate developer Talaat Moustafa Group (TMG) climbed 0.18 percent to close at EGP 5.69 per share.

Carmaker GB Auto soared 3.91 percent to close at EGP 2.39 per share.

The broader EGX70 index inched up 0.33 percent. 

*The official exchange rate for $1 = EGP 8.78.

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