Low volumes continue to dominate Cairo’s bourse
On Wednesday, March 7, the market witnessed a rebound from its prebairam status. However, low volumes still proved to be dominating the market, as only LE36.3 million worth of shares exchanged hands. Helwan Cement (HELW.CA) soared 4.99 percent to LE40.10, on the back of a rumor that the 48 percent stake set to be sold has been priced at LE48 per share.
Telecom stocks were on the positive side yesterday with market bellwether Mo-biNiL EMOB.CA) coming back into the light, shooting to LE68.65 with LE7.4 million of value traded, while regional mobile operator Orascom Telcom – OT (ORTE.CA) followed suit advancing 3.46 percent to LE36.16. CIB (COMI.CA) also showed strong performance, as price appreciated 3.91 percent to LE36.83.
The Cement sector fared well with Suez Cement (SUCE.CA), Sinai Cement (SCEM.CA) and Misr Beni Suef Cement (MBSC.CA) gaining 4.31 percent, 3.98 percent and 1.22 percent respectively.
Overall, the PAMI gained 0.79 percent to 6,935.4 while the PIPO was up 0.81 percent to 1,687.4.
Prime Securities S.A.E.
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