Cairo – Mubasher: The Egyptian Exchange’s (EGX) indices collectively declined in Wednesday’s early trades on the back of selling by local and Arab investors.
The benchmark EGX30 shed 0.65% to 7,203 points by 10:45am Cairo time, while the EGX70 and EGO 100 indices lost 0.46% and 0.49% to 348 points and 745 points, respectively. The EGX50 index was down 0.70% to 1,284 points.
Most leading stocks were also in the red with the exception of Global Telecom and Sidi Kerir which gained 1.85% and 1.47%, respectively, whereas the Commercial International Bank – Egypt (CIB), Ezz Steel, Qalaa Holdings, SODIC, TMG, Palm Hills, EFG Hermes, and Pioneers dropped in the range of 1.2% and 5.5%.
Turnover reached EGP 80 million after 27.8 million shares were exchanged, while a total of 10 stocks gained, 42 retreated and 45 remained unchanged.
Arab and Egyptian investors were net sellers with EGP 3 million and EGP 4.6 million, respectively, whereas foreign buying netted EGP 7.6 million.
On Tuesday, the EGX30 index ended the session in the green despite trimming its morning gains. The index grew 0.66% or 47 points to 7,250.92 points.
