Cairo – Mubasher: EGX indices collectively finished Thursday in the green zone, turning a blind eye to EFSA decision on the acquisition bid made by Beltone Financial Holding for CIB's investment banking arm CI Capital.
The benchmark moved above the mark of 7,460 to close the session 0.57% higher to 7,463 points.
CIB, the largest EGX30 constituent, accordingly fell by 0.58% to EGP39.74. Likewise, OTMT declined by 2.6% to EGP0.72 as well.
The Egyptian Exchange cancelled all transactions carried out on Beltone's stock today.
Yesterday, the Egyptian Financial Supervisory Authority (EFSA) delayed the acquisition bid anew as a result of violations related to commitments made by Naguib Sawiris, the major shareholder in Orascom Telecom Media and Technology (OTMT) following the split-up in 2012.
With 298.1 million shares changing hands, trading value reached EGP747.7 million.
The small and mid-cap index EGX70 ended 1.68% higher to 374.7 points. The broader index EGX100 rose 1.15% to 794.5 points. The equal-weighted index EGX50 increased by 0.99% to 1,439.7 points.
Foreign and Arab investors were net buyers by EGP196.7 million and EGP63.3 million respectively, while nationals were net sellers by EGP361.4 million.
The total market value added EGP2.4 billion to reach EGP406.5 billion on Thursday.
The top gainers are Orascom Hotels and Development, El Obour Real Estate Investment, Ismailia National Food Industries, and United Housing & Development with a rise ranging from 7.2 to 11%.
Meanwhile, the top losers were Misr Oils & Soap, Torah Cement, and Orascom Telecom Media and Technology Holding with a decline ranging from 5.2% to 9.7%.
