Cairo – Mubasher: The Egyptian Exchange started Monday's trading session in the red territory, reversing a strong gaining streak over the past few sessions.
The main index EGX30 lost 105 points or 0.97% to the mark of 10,811 points by 10:25am Cairo time.
CIB, Global Telecom, Amer Group, Juhayna, Hermes, Qalaa, El Sewedy, Oriental Weavers, GB Auto, and Palm Hills saw a 0.3-2.8% slide.
The small and mid-cap index EGX70 inched up 0.09% to 415 points and the equal-weighted index EGX50 rose 0.10% to 1663.8 points.
Meanwhile, the broader index EGX100 fell 0.22% to 994.7 points.
Foreigners were net buyers by EGP 7.7 million, while Egyptians and Arabs were net sellers by EGP 3.5 million and EGP 4.2 billion, respectively.
Trading value reached EGP 102 million after 46.5 million shares were traded.
Earlier, analysts forecasted the Egyptian Exchange to witness some profit-taking actions, targeting the 12,000 zone on the short term
This profit-taking wave is likely to be initiated by institutions due to the existence of alternative risk-free investments that is backed by higher interest rates, said market abalyst Mohamed Abd Alhakem, indicating that the main index is to target 12,000 points on the short run.
