Egyptian stocks decline slightly on profit taking

Ahram Online, Wednesday 12 Mar 2014

Egypt stock market slips after two days of gains on selling by foreign investors

Egyptian stocks fell on Wednesday after two days of gains as investors engaged in profit taking.

The benchmark index lost some 0.15 percent to close at 8096.94 points. Egyptian investors were swift to buy while foreigners ended the day as net sellers. Arabs were also net buyers.

CIB Egypt lost 1.19 percent to LE36.60, while Telecom Egypt gained 1.89 percent to close at LE16.19.

The real estate sector was among the best performers with Palm Hills and SODIC gaining 4.24 percent to LE 3.69 and 1.08 percent to LE25.23 respectively.

Out of 184 stocks listed, 67 gained while 100 declined.

The broader EGX70 index lost 0.33 percent.

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