Cairo – Mubasher: The Egyptian Exchange’s indices collectively reversed Sunday’s early gains and ended the session on a lower note.
The bourse was negatively affected by Naguib Sawiris’ statements over the interruption of CI Capital’s acquisition, turning a blind eye to Egypt prime minister’s speech in which his government’s policy for the coming two years was presented before the House of Representative.
The benchmark EGX30 lost 68.11 points, or 0.90%, to settle at 7,480.11 points.
Egypt’s business tycoon, Sawiris, said the acquisition of CIB’s investment banking arm is delayed by the state’s National Security, according to data published by a state newspaper.
Accordingly, OTMT and CIB, heavy stocks on EGX, fell by 3.8% and 4.34% respectively, while Beltone Financial fell 1.7% before EGX suspended trading on the company’s stock.
The total market value shed EGP1.8 billion ($204.9 million) to close the session at EGP404.12 billion against EGP405.94 billion on Thursday.
The small-and-mid cap EGX70 ended the session lower 0.30% to 365.92 points. Likewise, the broader index EGX100 slipped 0.41% to 788.96 points. The equal-weighted index EGX50 was lower 0.57% to 1,394.58 points.
Trading value reached EGP797 million after 361.9 million shares were traded. In addition, the bourse saw 106 stock move up, 42 move down, and 25 stay at their previous levels.
Arab investors were net sellers by EGP34.4 million, while national and foreign investors were net buyers by EGP28.2 million and EGP6.2 million.
Translated by Ahmed El-Sayed Ali
