Cairo – Mubasher: The Egyptian Exchange (EGX) shrugged off early gains on Thursday as the benchmark index slipped 0.13% to 7,404.9 points, by 11:02am Cairo time.
The EGX30 had risen 0.17% or 12.4 points to 7,426.8 points by 10:40am Cairo time.
The EGX70 and EGX100 indices shed 0.11% and 0.08% to 359 points and 764.9 points, respectively.
The Commercial International Bank (CIB-Egypt) fell 0.48% to EGP 41.89 by 11:03am.
Foreign investors bought stocks, netting EGP 21 million, whereas Egyptian and Arab investor net selling with EGP 12.8 million and EGP 8.2 million, respectively.
Turnover reached EGP 112.7 million after 31.7 million shares were traded, while 27 stocks were in the green, 37 declined and 36 remained unchanged.
Analysts told Mubasher earlier today that they expect the EGX to see an end to the sharp declines witnessed in the previous sessions, coinciding with the Central Bank of Egypt’s (CBE) decision on the interest rate for loans and deposits today.
