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Egyptian stock market slips as foreign investors sell

Main index down 0.22% on Wednesday

Ahram Online, Wednesday 24 Apr 2013
Egyptian Stock Exchange
Traders work at the Egyptian Stock Exchange in Cairo (Photo: Reuters)
Views: 748
Views: 748

Egypt's main share index, the EGX30, dropped 0.22 percent on Wednesday as turnover reached LE235.7 million.

Foreign investors unloaded a net LE37.5 million worth of shares at Wednesday's session, while Arab investors net sold LE12.8 million.

Among the 84 declining stocks were Orascom Construction Industries (OCI), which fell 0.49 percent, and Egyptian Financial Group-Hermes Holding Company which fell 2.24 percent.

In the telecommunications sector, Orascom Telecom Holding (OT) rose 0.43 percent.

In the real estate sector, Palm Hills Development Company fared best, gaining 0.47 percent, while TMG Holding and Six of October Development & Investment (SODIC) dropped 1.23 percent and 0.60 percent respectively.

Blue chip Commercial International Bank (CIB) registered a mild 0.16 percent gain.

The broader EGX70 index dropped 0.13 percent on Wednesday. 

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