CASE begins week with persisting negative sentiment
On Sunday, April 1, investor sentiment remained worsened, as stocks tumbled across the board in anemic volumes. Lakah Group (HCFI.CA) saw the highest volumes during the session while plummeting 4.48 percent to LE1.28. The telecom sector continued its nosedive, as MobiNiL (EMOB. CA) dropped 4.34 percent to LE52.94 while Orascom Telecom –OT (ORTE.CA) fell limit down to a new low of E24.32.
Cement stocks generally moved lower. Alexandria Cement (ALEX. CA) plunged 4.66 percent to close at LE11.06 and Suez Cement (SUCE.CA) closed 1.82 percent lower at LE33.49. However, Helwan Cement (HELW.CA) eked out a minor 0.64 percent gain to reach LE42.62.
The banking sector ended mixed, but some stocks put in a robust performance. Suez Canal Bank (CANA.CA) jumped 4.94 percent to LE16.16. National Societe Generale Bank (NSGB.CA) and Al-Watany Bank of Egypt (WATA.CA) gained 0.31 percent and 0.11 percent, respectively, to finish at LE28.99 and LE18.99.
Overall, the PAMI fell 2.93 percent to 5,940.7 while the PIPO was down 1.44 percent to 1,603.2.
Prime Securities S.A.E.
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