Egyptian Exchange Loses EGP 5.5 Bln, Orascom Telecom 3.24% Down; Early Trading

By Yomna Yasser On May 27, 2012

On Sunday’s early session, the EGX posted losses of EGP 5.5 billion as the capital market has reached EGP 347.811 billion at 9:36 GMT (11:36 in Cairo).

The main index, EGX30 dived 2.18% to reach 4863.54 p. EGX20 inched lower 2.46% to hit 5561.54 p.

Meanwhile, the mid- and small-cap index, the EGX70 edged down 1.45% to reach 424.11 p. Price index EGX100 sank 1.58% to hit 763.09 p.

Traded volume reached 53.212 million securities worth EGP 18.659 million, exchanged through 3.815 thousand transactions.

This was after trading in 120 listed securities; 105 declined and 4 advanced while 11 keeping their previous levels.

Non-Arab Foreigners and Arabs were net sellers seizing 11.71% and 8.3% respectively, of the total markets, with a net equity of EGP 7.864 million and EGP 2.511 million, excluding the deals.

On the other hand, Egyptians were net buyers seizing 79.98% of the total markets, with a net equity of EGP 10.375 million excluding the deals.

EGX’s leading shares witnessed collective downwards led by Orascom Telecom Holding (OTH) (ORTE.CA) dived 3.24% to reach EGP 3.29. Orascom Telecom Media & Technology Holding (OTMT.CA) sank 2.92% to reach EGP 1.33. EFG-Hermes Holding (HRHO.CA) also edged down 2.85% to hit EGP 10.90. Orascom Construction Industries (OCIC.CA) went down 2.44% to hit EGP 271. Commercial International Bank- Egypt (COMI.CA) inched lower 1.80% to hit EGP 25.70. Additionally, Telecom Egypt Co. (ETEL.CA) down by 1.58% to reach EGP 12.42.