Egypt's stocks slumped further on Sunday as the profit-taking wave continued to dominate the market, a downturn after last week's record benchmark high of 7196 on the first day of the constitutional referendum. Egyptians were the only net sellers with some LE21 million in a session that saw the main index EGX30 tumble 2 percent, registering 7,003 points. The broader index EGX70 declined 1.5 percent. The daily turnover of the listed securities reached LE519.7 million. Both foreign and Arab investors were net buyers with some LE7.7 million and LE13.2 million respectively, as many tried to take advantage of shares' current low prices. EGX30 across-the-board listed shares ended the trading in red, led by the blue chip Commercial International Bank which dipped 1.3 percent and closed at LE32.6 per share instead of LE33. Telecommunication shares Global Telecom and Telecom Egypt were both down 3 and 1.6 percent, closing at LE4.88 per share and LE14.46 per share respectively. Property shares Talaat Mustafa Group and Six of October Development and Investment each slipped 1.7 percent, closing at LE6.65 per share and LE22.6 per share respectively. The real estate developer Palm Hills Development fell 2.4 percent, registering LE2.75 per share. http://english.ahram.org.eg/News/91990.aspx
