Market report: Egypt's benchmark index ends the week with a slight dip

Egypt's stock market closes on a 0.36 per cent dip to 5,461.45 points, in spite of foreign buying activity

The stock market main index ended the week in negative territory "Because of profit-taking processes after a six-day buying spree," comments Walaa Hazem, asset manager at HC Securities.
Individual investors widened their participation on Thursday, becoming are net buyers with a LE 23m difference, a sum that was offset by institutions' net sales in the same amount.
Of 181 stocks listed, 65 showed gains, 109 declined and 7 remained unchanged. Total turnover was LE 772.4m in the last session of first full week of uninterrupted trading after Egypt's revolution.
However, EGX70 edged up 0.64 per cent. "Individual investors prefer less heavy-weighted companies, they were net buyers today," says Salah Heider, financial analyst for City Trade Securities
Only three sectors ended the week in the black: Construction, Basic Resources and Chemicals, but the rest are decliners.
Almost all leading shares dropped. Orascom Telecom and Mobinil were down by 1.8 per cent and 1.3 per cent, respectively, after six days of straight surge.
OCI recorded 1.3 percent up.
Noteworthy is that companies whose owners are charged with corruption saw their first rise on Thursday. TMG recorded 0.44 per cent, Ezz Dekheila share was up and Palm Hills reduced its downward trend to fall 3 per cent against 10 per cent since the Egyptian bourse reopened last Sunday.
Ezz Steel rose to 7 per cent after six days as the top losers.
"Traders left politics and went back to trading to make profits and reduce losses," Heider told Ahram Online. Market turnover was still robust in Thursday, with some LE700m worth of traded equities.
The stock market main index ended the week on a negative territory, "Because of profit-taking process after six days of buying spree", comments Walaa Hazem asset manager at HC securities.
Individual investors widened their participation on Thursday and they are net buyers with a LE 23 mn difference, a sum that was offset by iinstitutions' net sales of the same amount.
Of 181 listed stocks, 65 showed gains, 109 declined and 7 remained unchanged. Total turnover was LE 772.4 mn in the last session of first full week trading without delays after Egypt revolution.
On the other hand, EGX70 edged up 0.64 per cent. "Individual invesotrs prefers less heavy-weighted companies, they were net buyers today", says Salah Heider financial analyst of City trade securities
Only three sectors ended the week on a green note: Constructions, Basic resources and Chemicals but the rest are decliners.
Almost all leading shares dropped. Orascom Telecom and Mobinil were down by 1.8 per cent and 1.3 per cent respectively after 6 days of straight surge.
OCI recorded 1.3 percent up.
Noteworthy, companies whose owners are charged of corruption saw their first rise on Thursday. TMG recorded 0.44 per cent, Ezz Dekheila share was up and Palm Hills reduced its downward trend to fall 3 per cent against 10 per cent since the Egyptian Bourse reopened last Sunday.
Ezz Steel raise to reach 7 per cent after 6 days in top losers.
"Traders left politics and went back to trading to make profits and reduce losses", Heider told Ahram Online. Market turnover was still robust in Thursday, with some LE700 million worth of traded equities.