Cairo – Mubasher: The Egyptian Exchange's main index ended Tuesday in the red zone after declining 0.16%, or 11.4 points, to close at the mark of 7,331.
Unlike, the small and mid-cap EGX70 closed 1.07% higher to 365 points. Likewise, the broader index EGX100 rose 0.67% to 777.9 points. The equal-weighted index finished 0.16% up to 1,406.3 points as well.
Most blue-chip stocks, including SODIC, Global Telecom, Palm Hills, and Talaat Moustafa Group, ended the session on a positive note. But CIB, the largest EGX30 constituent, saw a decline by 0.98% to EGP39.5 at close.
Khaled Nagah, head of trading at Mega Investment, said the benchmark has started a downward correction movement as a natural result of the latest remarkable upturn. He added that the current profit-taking will temporarily hinder the positive performance of the main gauge, pointing out that the downtrend is characterized by low trading volume.
Unlike, EGX70 has been rising lately at a slower pace than EGX30, which presently gives the small and mid-cap a momentum for moving up amid the existence of investment opportunities.
Trading value reached EGP429.2 million. In addition, the bourse saw 71 stocks go up, 51 move down, 48 ones remain unchanged.
Arab and foreign investors were net buyers by EGP31.4 million and EGP18.6 million respectively, while nationals were net sellers by EGP50 million.
By category, institutions were net buyers, while individual were net sellers.
The total market value added EGP300 million to reach EGP400.6 billion.
The top losers are Glaxo Smith Kline, Arab Aluminum, Saudi Egyptian Investment & Finance, and Egyptian International Tourism Projects with a fall ranging from 5.4% to 9.1%.
The top gainers are Advanced Pharmaceutical Packaging, Cairo Development and Investment, Orascom Hotels and Development, Orascom Development Holding, and Medical Packaging Company with a rise ranging from 6.2% to 9.9%.
