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Sunday, 18 April 2021

Egypt stocks flatline for second consecutive session

Stocks steady after rebounding from last week's five-month low

Ahram Online , Tuesday 23 Dec 2014
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Egypt's benchmark EGX30 index gained 0.08 percent on Tuesday to close at 8,710 points, flatlining for the second session in a row.

The index hit a five-month low on 17 December as regional markets plummeted following the fall of oil prices to the lowest in five years. It rebounded on 18 and 21 December, gaining nearly 570 points.

The index has gained 28 percent since the beginning of 2014.

The market saw turnover of LE560 million today, with Orascom Telecom and Media Technology seeing the highest activity of LE68.6 million. It gained 0.79 percent to close at LE1.28 per share.

Foreign institutional investors were net-buyers in today's session while Egyptian investors were net sellers at LE15 million.

The broader-based EGX70 lost 0.55 percent.


 

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