Cairo – Mubasher: Egyptian indices varied between highs and lows in Tuesday’s early trades, amid pressure by Egyptian investors’ selling.
By 10:25 am Cairo time, the benchmark EGX30 index slipped 0.11% to 13,193.89 points, while the EGX70 index grew 0.24% to 577.52 points.
The EGX100 and equal weight EGX50 also gained 0.20% and 0.18% to 1,370.55 points and 2,051.95 points, respectively.
Turnover reached EGP 223 million after 98.5 million shares were traded through roughly 2,600 transactions. A total of 22 stocks were in the green, while 20 declined and 32 remained stable.
Egyptian investors were net sellers with EGP 26.2 million, while Arabs and foreigners were net buyers with EGP 4.7 million and EGP 21.5 million, respectively.
Sidi Kreir, Talaat Mostafa Group Holding (TMG), Qalaa, GMC, and Arab Ginning led losers, falling between 1.60% and 1.1%.
In addition, Commercial International Bank – Egypt’s (CIB) stock shed 0.51% to EGP 80.
On the other hand, Orascom Construction (OC), Al Sewedy Electric, EFG Hermes, and Madinet Nasr Housing Development (MNHD) led risers, adding between 0.78% and 0.54%.
Earlier on Tuesday, analysts told Mubasher that the EGX was likely to see a sideways-to-downward movement during the session, with the benchmark index targeting 13,260 points.
