Last Update 23:0
Tuesday, 22 October 2019

Egypt bourse calm following last week's record highs

Egypt's main index drops slightly on Monday but remains 7.5 percent higher than beginning of month

Ahram Online, Monday 23 Dec 2013
Egyptian Stock Exchange
A view shows the Egyptian Stock Exchange in Cairo (Photo: Reuters)
Share/Bookmark
Views: 417
Share/Bookmark
Views: 417

The Egyptian bourse is calmer this week after last week recording its highest level for three years.

The benchmark EGX30 fell 0.16 percent to register 6725 points on Monday, which remains 7.5 percent higher than the beginning of the month when it recorder 6267 points.

"It was expected the market would slow after the significant rise last week. Notably, the market's minimal drop from the last session remains a moderate rise from last month," Ashraf Abdel Aziz, head of institutional sales at the Cairo-based Arabia Online Securities, told Ahram Online in a phone interview on Monday.

Turnover of listed stocks registered LE350 million.

The broader EGX70 dropped 0.48 percent to register 531 points. The turnover of EGX70 stocks was LE86 million ($12.43 million), i.e. 24.5 percent of all listed stock turnover.

Egyptian investors were net sellers at a value of LE13 million ($1.88 million) where most purchases were made by Arab investors reaching LE11 million ($1.59 million).

Some 178 stocks were traded in this session, 111 were decliners while only 41 achieved gains.

Commercial International Bank (CIB), Abou Kir Fertilizers and Mobinil were some of the few gainers in this session, inching up 0.15, 1.45 and 0.52 percent respectively and closing prices at LE32.65 ($4.72), LE163 ($23.56) and LE135.09 ($19.53) per share.

Palm Hills Development Company, TMG Holding and Orascom Telecom Media and Technology Holding showed losses of 1.11, 0.81 and 1.3 percent respectively to close at LE2.68 ($0.39), LE6.16 ($0.89) and LE0.76 ($0.11) per share.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.