Egyptian blue chips drag main index down 1.64%

Khaled Barakat , Tuesday 30 Nov 2010

The mid-week session ended on a negative note, following European and American markets

the Egyptian stock Exchange fell down today
the Egyptian stock Exchange fell down today

Egypt's main stock market index, EGX 30, followed the trend of a downward turn across global markets, ending the day down 1.64% to close at 6704.83 points. 

Despite a total turnover of more than LE1 billion, Orascom Telecom came at the top of losers, with a decline of 4 .11%. Despite solid results so far this year, EFG-Hermes Holding, the largest investment bank in the Middle East, was not immune to the trend. The share shed 1.7% to close at LE33.62.

Foreign and Arab traders, who accounted for some 39% of total trading, tended to sell today. Foreign net sales totalled LE41 million, with Arab net sales amounting to LE13.35 million. Egyptian buying transactions exceeded selling.

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