Egyptian stocks continue decline as investors sell

Ahram Online, Monday 17 Nov 2014

Local investors net sellers on Monday, leading stocks to fall 1.17%

Egypt's stocks continued to slide on Monday as market big caps declined and Egyptian investors sold.

Benchmark index, EGX30, dropped 1.17 percent to record 9,122 points and daily stock turnover registered LE550.3 million.

Egyptian investors, who comprised 76 percent of total trades, were net sellers to the tune of LE72 million, while foreign investors were net buyers to the tune of LE60.5 million.

Commercial International Bank, the market's bellweather, inched up 0.14 percent to LE49.11 per share.

Egypt's leading investment bank, EFG-Hermes, declined 2.58 percent to LE17.48 per share.

Both Telecom Egypt and Global Telecom Holding were decliners, falling 0.49 percent to LE14.24 per share and 2.1 percent to LE4.15 per share.

The broader index fell 0.48 percent.

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