Egypt's main index slightly down after six-year record high

Ahram Online, Wednesday 26 Mar 2014

EGX30 falls 0.25 percent, but turnover of listed stock remained over LE1 billion

Egypt’s benchmark index EGX30 fell by 0.25 percent on Wednesday to register 8,480 points, a slight downturn following Tuesday’s six-year record high.

The broader index EGX70 inched up 2.2 percent.

Turnover of listed stock remained high, over LE1 billion ($143.5 million).

Egyptian investors were net buyers to the tune of LE11 million ($1.58 million) while non-Arab investors were net sellers with LE9 million ($1.29 million). Arab investors followed at LE3 million ($431,000).

EFG-Hermes and Commercial International Bank (CIB) were among the seven gainers in the main index.

Market bellwether CIB inched up 0.81 percent to LE38.11 ($5.56) per share, achieving roughly LE28 million ($4.02 million) in turnover.

Investment bank EFG-Hermes slightly rose by 0.08 percent to LE13.25 ($1.9) per share.

In the telecom sector, Orascom Telecom Media and Technology (OTMT) fell 0.68 percent to LE1.46 ($0.21) per share, while Telecom Egypt (TE) dropped 1.18 percent to LE17.49 ($2.51) per share.

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