Cairo – Mubasher: Global Telecom has become the Egyptian Exchange’s (EGX) sole riser since the beginning of Tuesday’s trading session, shrugging off global stock markets plunge.
By 1:00 pm Cairo time, Global Telecom’s stock edged up 0.56% to EGP 7.12.
Trading volume on the stock amounted to 6 million shares exchanged at a turnover of EGP 42.14 million.
Meanwhile, the benchmark EGX30 index dropped 2.07%, or 309.04 points, to 14,653 points.
Moreover, Juhayna Food Industries led declining blue chips with a 3.03% decrease, followed by Arabian Cement and Kima which fell 1.56% and 2.43% respectively.
The EGX has seen a bearish trend early Tuesday, in line with the huge losses the global markets witnessed yesterday.
The US indices have sharply fallen on Monday’s trading session, as Dow Jones hit an all-time low, losing 1,175 points.
