Cairo – Mubasher: The Egyptian Exchange (EGX) gave up the highest level that has been ticked since 28 April on profit-taking.
The benchmark pared early gains, closing 0.81% higher to the mark of 7,780.13.
Market capitalization added EGP 2.1 billion ($236.5 million) to reach EGP 409.50 billion against EGP 407.50 billion on Tuesday.
Profit-taking led the benchmark to 7,800 points, said Ahmed Abdel-Hamid, managing director of Watheeqa Securities, adding that most blue-chip stocks ended in the red territory, namely CIB and Palm Hills.
The analyst expected profit-taking to continue up till the first half of Thursday’s trading session and the EGX30 to maintain the level of 7,700 at the close.
TMG, Ezz Steel, Palm Hills, Pioneers, Juhayna, and Sidi Kerir Petrochemicals came in green with a rise ranging between 0.7% and 2.7%.
On the flip side, CIB, EFG-Hermes, Elsewedy Electric, Edita, OTMT, GB Auto, and Amer Group were in red with a slide swinging from 1% to 3.2%.
On the same negative note, the small and mid-cap EGX70 edged down 0.08% to 372.2 points and the equal-weighted index closed 0.83% down.
Meanwhile, the small and mid-cap EGX70 edged up 0.08% to 372.2 points.
Trading value reached EGP 595.2 million after 205.2 million shares were traded.
Out of 171 stocks, 79 ones moved up; 44 went down; and 48 ones stayed at their previous levels.
Nationals and Arab investors were net buyers by EGP 4.5 million and EGP 5.3 million respectively, while foreign investors were net sellers by EGP 9.8 million.
