EGX30 Closes Below 4040 Pts, CIB 3.79% Down On Runoff Results Delay

By Yomna Yasser On Jun 21, 2012

As results of Egypt’s presidential run-off’s delay, the Egyptian Exchange (EGX) had posted losses during Thursday closing worth EGP 3.845 billion the capital market has reached EGP 303.0.13 billion.

The results of Egypt’s presidential run-off have been delayed by the election authorities, further raising tension across the polarized country.

The presidential runoff results had been due to be announced on Thursday, but the Higher Presidential Election Commission (HPEC) said it needed more time to look into complaints presented by the candidates; Mohamed Morsi and Ahmed Shafiq.

The main index, EGX30 dived 1.87% to close at 4031.6 p. EGX20 sank 1.79% to end at 4554.87 p.

Meanwhile, the mid- and small-cap index, the EGX70 sagged 0.95% to finish at 373.39 p. Price index EGX100 edged down 1.47% to conclude at 632.78 p.

Traded volume reached 59.183 million securities worth EGP 190.964 million, exchanged through 11.742 thousand transactions.

This was after trading in 157 listed securities; 114 declined and 26 advanced while 17 keeping their previous levels.

The main reason behind EGX30’s fall was that the non-Arab Foreigners were net sellers seizing 30.49% of the total markets, with a net equity of EGP 16.938 million excluding the deals

Egyptians and Arabs were net buyers seizing 56.66% and 12.84% respectively, of the total markets, with a net equity of EGP 16.171 million and EGP 767.286 thousand excluding the deals.

EGX’s leading shares witnessed collective downwards led by shares of Commercial International Bank- Egypt (CIB) (COMI.CA) which dived 3.79% closing at EGP 21.58. Shares owned by Orascom Construction Industries (OCIC.CA) sagged 1.60% closing at EGP 216.16. Shares of EFG-Hermes Holding (HRHO.CA) went down 1.52% concluding at EGP 9.05.

Additionally, shares owned by Shares of Orascom Telecom Holding (OTH) (ORTE.CA) inched lower 1.12% finishing at EGP 2.65. Shares of Orascom Telecom Media & Technology Holding (OTMT.CA) dipped 0.76% ending at EGP 1.30.