Egypt stocks decline slightly on profit taking

Ahram Online, Sunday 22 Dec 2013

After hitting high record last week, Egyptian shares registered a slight decrease on Sunday

 Egyptian stock market
An interior view of the Egyptian stock market is seen in Cairo (Photo: Reuters)
Egypt's bourse slowed down on Sunday as investors tended to take profits after several consecutive green session over the last week after reaching three-year high last week when the market ended up beating a new high record of 6,748 points
 
The benchmark index EGX30 lost 0.17 percent registering 6,736 points.
 
Egyptian and foreigner, non-Arab investors were net sellers while Arab investors were the only net buyers. 
 
The real estate sector ended the day on mixed notes with Palm Hills Development (PHD) gained 1.5 closing at LE2.71 per share, while Six of October Development & Investment (SODIC) and Talaat Mustafa Group (TMG) recorded LE22.7 and LE6.21 respectively per share losing 5 and 0.5 percent one-to-one.
 
Biggest market cap Commercial International Bank (Egypt) gained 0.28 percent closing at LE32.6 per share.
 
Turnover of listed stocks was relatively low at LE 387 million ($55.3 million).  
 
Out of 180 stocks traded over the day, 125 declined and 33 gained.
 
The broader index EGX70 lost 0.16 percent. 
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