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Cairo bourse in red zone for second straight session

Cairo bourse in red zone for second straight session
Market capitalization lost EGP 348 million to close at EGP 563.6 billion - Photo Credit: Mubasher

Cairo – Mubasher: The Egyptian Exchange finished Thursday on a mixed note, registering a decline in the market total share.

The benchmark lost 50.4 points or 0.44% to decline towards 11,297.9 points. By this second fall in a row, the index recorded the lowest mark in December 2016.

Likewise, the broader index EGX100 decreased 0.15% to 1,060.5 points and the equal-weighted index was 0.6% lower to 1,819.19 points.

Meanwhile, the small and mid-cap index EGX70 rose 0.14% to 449.4 points.

Trading values reached EGP 1.1 billion after 335 million shares were traded.

Madinet Nasr Housing and Development was the most active stock in terms of value with EGP 121.6 million. The stock was placed at EGP 24.35 with a 9.98% rise.

Telecom Egypt saw the highest performance in 52 weeks after moving 7.4% up to EGP 68.5 a share.

The largest EGX30 component CIB registered a trading value of EGP 66 million. The stock ended 0.9% higher to EGP 68.03.  

Market capitalization lost EGP 348 million to close at EGP 563.6 billion.

Foreigners and Arabs were net buyers by EGP 90.5 million and EGP 20.5 million, while Egyptians were net sellers by EGP 110.99 million.

On Wednesday, The benchmark index EGX30 slide 1.34% or 154 points to close at 11,348.3 points.