Egyptian stocks closed down in Thursday trading, wrapping up a week of uneven performances.
The main EGX30 index slipped by 0.52 per cent to 5,661 points in a session that saw only LE378.5 million in trade volume.
Since the beginning of 2013, Egypt's EGX30 – which tracks the local market's 30 largest-cap shares – has fallen by a total of 3.6 per cent.
On Wednesday, the market rose by some 0.5 per cent following an administrative court verdict upholding the validity of the Talaat Moustafa Group (TMG)'s Madinaty real estate project.
Despite the court ruling, however, TMG slumped a surprising 3.36 per cent on Thursday to close the day out at LE4.32 per share.
Luxury real estate developer Palm Hills Development, meanwhile, saw no change in its share price, despite generating unusually high turnover (LE44 million).
Similarly, the Commercial International Bank saw no changes to its share price.
Orascom Construction Industries (OCI), Egypt's largest listed company, meanwhile, fell by 0.55 per cent on weak trading.
Orascom Telecom Holding was the only blue chip that registered gains on Thursday, rising 1 per cent to close the day out at LE4.14 per share.
Non-Arab foreign investors accounted for 24 per cent of the day's total trading, selling almost as much as they purchased.
Of 177 shares traded, 133 fell in value on Thursday while only 26 gained. The broader-based EGX70, meanwhile, fell by 1.77 per cent.
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