Traders work at the Egyptian stock exchange in Cairo (Photo: Reuters)
Egypt's benchmark EGX30 index gained a slight 0.04 percent on Sunday to reach 5,209 points, buoyed by news that an IMF delegation was in Cairo to resume stalled negotiations over a proposed $4.8 billion rescue loan.
Foreign investors continued the previous week's selling spree, while Egyptian and Arab investors were net buyers for the day, picking up some LE4.65 million in stocks.
Sunday's session saw exceptionally low turnover of LE149 million.
Out of 165 stocks traded, only 80 registered gains on Sunday, with blue chip stocks Orascom Construction Industries (OCI) and Orascom Telecom shedding 0.12 and 0.48 percent respectively.
Orascom Telecom Media and Technology Holding, meanwhile, managed to gain 2.63 percent, having obtained government permission for construction of an underwater internet cable in the MENA region estimated at $1.6 billion.
Real estate stocks also fared well for the day, with Palm Hills gaining 1.87 percent, TMG Holding up 0.76 percent and SODIC rising by 0.3 percent.
Banking giant CIB, meanwhile, fell by 1.13 percent, while National Societe Generale Bank traded up by 0.13 percent.
Short link: