CAIRO - Egypt's main index fell on Sunday as the country's big caps were in the red, traders said. Egypt's heavyweight Commercial International Bank (CIB), fell by 2.31 per crent to LE30.85 ($5.2) per share. EFG-Hermes, the country's biggest investment bank by market value, plunged 2.98 per cent to LE20.87 per share. The country's benchmark index EGX 30 shed 1.42 per cent to 5,349.02 points, they added. The broader indexes EGX 70 and EGX 100 were also in the red, slipping by 1.07 and 1.21 per cent to 598.82 and 942.24 points respectively, according to Bourse data. Volume hit LE379 million. Sinai Cement slid 9.69 per cent to LE50.05 per share, according to Bourse data. Talaat Mustafa Group, the country's biggest listed real estate developer, fell by 2.7 per cent o LE4.32 per share. Meanwhile, the Central Bank of Egypt (CBE) sold LE5 billion ($838 million) in domestic treasury bills, the same amount it was seeking, Reuters reporters. The CBE sold LE1.5 billion of 91-day T-bills at an average yield of 11.079 per cent, down from 11.103 per cent at last week's auction. The CBE also sold LE3.5 billion of 266-day T-bills at an average yield of 12.228 per cent, up from 12.196 per cent at the last issue on March 29. GB Auto, the country's biggest listed automobile assembler, said political turmoil in the country would weigh on its sales in the first half of 2011, but saw a rebound later in the year. Chief Executive Raouf Ghabbour said in a statement net profit margins were "substantially constrained" in the first quarter of 2011, but he saw them improving in the second half on market recovery in Egypt and stronger sales in Iraq. Shares in GB Auto fell by 1.41 per cent LE28.03. GB Auto said on March 3 its net profit fell 55.4 per cent year-on-year in the fourth quarter of 2010 to LE40.1 million.
