CAIRO: Egypt's benchmark index ended almost flat at 0.3 percent lower, led by heavyweight Orascom Telecom (OT) and Orascom Construction. "Heavyweight stocks are down as investors are selling to make profit following the market gains of last week," said Mina Iskander of investment bank EFG-Hermes. OT lost 1.5 percent and Orascom Construction 1 percent. Egypt's food stocks scored gains ahead of the Muslim fasting month of Ramadan, expected to start by the end of this week. During Ramadan, demand for food usually surges. Dairy and juice maker Juhayna Food Industries added 2.7 percent. "A big percentage of its revenue comes from its yogurt sales in this month," Iskander said, adding the firm is likely to continue performing well both on the bourse and off. The index closed at 6,389 points.
