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Monday, 08 March 2021

Egypt’s main index slightly up despite low turnover

Investors still concerned over the market's shaky performance in the last two weeks, says an analyst

Ahram Online, Monday 14 Apr 2014
Traders work in Egypt
File Photo: Traders work in Egypt's stock exchange (Photo: AP)
Views: 540
Views: 540

Egypt's benchmark index EGX30 rose 0.14 percent on Monday to record 7,886 points.

Turnover of listed stock was a mere LE481 million.

“The market will take a while before recovering. Investors remain worried following the market’s wobbly performance over the past two weeks,” capital markets expert Mostafa Badra told Ahram Online.

The EGX30 has seen significant losses since the last week of March.

Last week, the index hit a low of 7,524 points, but some analysts have described its recovery as tenuous.

The broader index EGX70 inched up 0.52 percent.

Out of 174 traded stocks, 83 were gainers.

All the real estate shares in the EGX30 index were up.

Talaat Moustafa Group (TMG) inched up 0.13 percent to LE7.78 per share, Palm Hills rose 0.27 percent to LE3.64 per share and Six of October Development Investment Company (SODIC) increased 1.86 to LE25.2 per share.

In the financial services sector, Amer Group and Pioneers Holding were gainers, rising 3.82 percent to LE1.66 per share and 0.09 percent to LE11.8 per share respectively.

EFG-Hermes declined 0.33 percent to LE12.06 per share.


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