Traders work at the Egyptian stock exchange in Cairo, Aug. 18, 2013 (Photo: Reuters)
Egypt’s stocks mostly declined on Monday as investors sought profits following a week of gains, said an analyst.
Benchmark index, EGX30, declined slightly by 0.21 percent to record 9,703 points and daily stock turnover registered LE957.4 million ($136.7).
“The index dropped due to profit taking following ten days in a row of good gains,” Mohamed Radwan, head of equities at Pharos Holding, told Ahram Online.
Non-Arab foreign investors were net buyers to the tune of LE10 million ($1.4 million).
Commercial International Bank (CIB) declined slightly by 0.02 percent to LE47.8 per share.
Egyptian financial group (EFG-Hermes) fell 1.24 percent to LE19 per share.
State-run, Telecom Egypt (TE), dropped 1.25 percent to LE14.95 per share.
In the real estate sector, Palm Hills Development and Heliopolis Development were both fell, dropping 0.22 percent to LE4.47 per share and 0.13 percent to LE60.5 per share respectively while Talaat Moustafa Group (TMG) holding and Six of October Development and Investment Company (SODIC) were both gainers, rising by 0.45 percent to LE11.13 per share and 1.84 percent to LE49.96 per share.
Broader index, EGX70, dropped 1.42 percent.
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