Egypt's stocks pause gains amid local and foreign selling

Ahram Online , Wednesday 20 Apr 2016

Egypt's stocks (Reuters)

Egypt’s stocks ended a wave of gains on Wednesday as local and non-Arab foreign investors tended to be net sellers during the session.

The stock market’s benchmark EGX30 was down 0.82 percent to register 7,799 points. Daily turnover registered some EGP 986.3 million.

Out of 185 securities listed, only 35 shares saw gains while 122 went down, with real estate developer Talaat Moustafa Group (TMG) remaining the most traded for the second consecutive day.

TMG increased 1.95 percent to close at EGP 6.179 per share.

Blue chip Commercial International Bank (CIB) climbed 0.40 percent to be sold at EGP 42.47 per share.

Global Telecom rose 0.63 percent to record a price of 3.18 per share.

Egypt’s leading listed investment bank EFG Hermes fell 2.46 percent to close at EGP 10.30 per share.

Broader index EGX70 shed 1.31 percent.

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