By: Ahmed Kamel Cairo, March 11, 2018 –The local stocks ended mixed on Sunday on the back of a snappy profit-taking sentiment. The benchmarkindex EGX30fell by 0.49 per cent to16,391.48 points.Thebroader indices EGX70 and EGX100 slipped 0.05and 1.16 per cent to 894.36 and 2,217.46 points. However, the EGX50 and EGX20 Capped indices added 0.42 and 0.3 per cent to 2,781.99 and 16,195.35 points respectively. The EGX30 index surged roughly 1,000 points, or 6.66 per cent, to 16,472.28 points, an all-time high, last week. Volume totaled LE1.48 billion (around $84million), market data showed. The market capitalization shed LE 3.49 billionto LE954.45billion. The nation's heavyweight blue chip Commercial International Bank (CIB) added 1.39 per cent to LE84per share. Locals and non-Arabswere net sellers of LE10.57million and LE2.6million respectively. Arab investors were net buyers of LE13.2million, market data showed. Of a total 183tradedstocks yesterday88 shares rose, 58 fell, 37 remained unchanged, market data showed. A number of investment banks recommended an increase in the weight of El Sewedy Electric in the investment portfolio, citing higher profitability. El Sewedy Electric posted 64 per cent increase in net profit to LE6.4 billion in 2017, the company said in a bourse filing. Investment bank Pharos said gross profit from electric cables jumped to $1.3 per tonne in 2017. Beltone Financial set the fair value of the cable maker at LE181.6 per share.
