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Market Update: Egypt stocks see trickle of trade as elections get underway

Main index fluctuates between mild gains and losses as investors head to the ballot box, hobbling market volume

Ahram Online, Wednesday 23 May 2012
Cairo stock market
General view showing traders at the Cairo stock market (Photo: AP)
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Egypt's stock market is seeing sluggish trade as the presidential elections get underway.

The benchmark EGX30, fluctuating between mild gains and losses throughout the morning, is currently trading up 0.1 per cent at 4,867.9 points some 90 minutes into Wednesday's trading session.
 
The broader EGX70 is gaining a healthy 1.13 per cent, 
 
Market volume is a very slim LE109.18 million ($18.08m), a fraction of its typical level.
 
"Investors are busy voting, they haven't been following the market," market analyst Mostafa Badra told Ahram Online.
 
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