Egypt's main index up amid modest turnover

Ahram Online, Tuesday 16 Sep 2014

EGX30 up 0.93 percent as non-Arab foreigners shift to net sellers and real estate shares gain

Traders work at Egypt's Stock Exchange in Cairo (Photo: Reuters)

Egypt's benchmark index EGX30 inched up 0.93 percent to record 9,534 points on Tuesday while daily stock turnover registered almost LE582 million.

Non-Arab foreign investors, who have been net buyers for the past few sessions, became net sellers to the tune of LE50.7 million while Egyptians were net buyers to the tune of LE42 million.

Market bellwether Commercial International Bank (CIB) gained 1.2 percent to LE48.25 per share and recorded LE41.5 million in turnover.

Heliopolis Housing led the main index with a 5.68 percent increase to LE60.02 per share, registering a turnover of LE47 million.

Other real estate gainers included Palm Hills for Development (PHD), up 0.23 percent to LE4.26 per share, Talaat Moustafa Group (TMG) holding, which rose 0.37 percent to LE10.85 per share, and Six of October for Development Company (SODIC), which gained 2.05 percent to LE46.4 per share.

Global Telecom Holding (GTH), which approved on Tuesday the selling of its stake in Wind Canada, saw its share rise 0.38 percent to LE5.17.

The broader index EGX70 rose 0.77 percent.

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