Cairo – Mubasher: The Egyptian Exchange started the mid-week trading session battered by local selling activity.
The main index EGX30 edged down 18.3 points or 0.16% to 11,408.19 points by 10:38am Cairo local time (CLT).
The largest EGX30 constituent inched up 0.04% to EGP 68.7.
Orascom Telecom was the most active stock in terms of volume with 37.8 million shares changed hands at EGP 31.5 million. The stock fell 2.33% to EGP 0.84 by 10:44am CLT.
The small and mid-cap index lowered 0.18% to 458.79 points and the equal-weighted index was lower 0.4% to 1,856.04 points.
Meanwhile, the broader index EGX100 was up 0.13% to 1,078.46 points.
Nationals were net sellers by EGP 12.7 million, while Arabs and foreigners were net buyers by EGP 3.7 million and EGP 9.04 million, respectively.
Trading volume reached 85.9 million shares traded in 4,918 transactions at EGP 179.3 million
The benchmark index was dragged lower on a strong selling power to close at 11,426 on average volume, said MubasherTrade Research in a report on Tuesday.
“Visiting 11,300 is likely and lateral moves will take place”, the research agency added, advising traders to spread between the high and low prices (Trading Ranges) over the session.
The bourse finished Monday’s trading session in the red territory as EGX30 decreased 204.9 points or 1.8% to the mark of 11,426.5 points.
