Traders work at the Egyptian stock exchange in Cairo (Photo: Reuters)
Egyptian stocks ended Wednesday trading in the red, breaking with the upward trend that followed the six-day holiday for Eid al-Adha.
EGX30, Egypt's main stock index, fell 0.57 percent on Wednesday to record 6165.96 points.
"The market has been rising continuously since two sessions before the Eid break, inevitably leading to profit making," Eissa Fathy, vice head of the securities division at Cairo's Chamber of Commerce, told Ahram Online.
The daily turnover of listed securities decreased to LE567 million on Wednesday after exceeding LE750 million earlier in the week.
Investors participated cautiously in today's trading session in anticipation of higher prices, which Fathy suggests indicates faith that the market will get better in the future.
The broader indices EGX70 and EGX100 also shed 0.14 and 0.17 percent respectively.
Egyptians were net buyers with some LE9 million, while foreign investors were net sellers.
Global Telecom Holding, Commercial International Bank and Telecom Egypt were all losers, dropping by 0.42, 0.8 and 2.22 percent respectively.
EL-SWEDY Electric and Juhayna Food Industries were more fortunate, with their shares rising by 1.06 and 1.65 per cent respectively.
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