Profit-taking drags CASE index slightly lower
On Monday, August 6, the market managed to hold on to the previous day's gains, despite somewhat eased demand. The PAMI index opened higher, but was met by profit-taking later in the day which pushed the index down slightly, to finish up 0.47 percent at 5,891.4.
Market heavyweight MobiNiL continued to rally, registering a 2.46 percent rise to LE55.08. Meanwhile, OT remained flat at LE17.16.
Banking stocks gained more ground with EAB executing 112,230 shares limit up at LE51.68 and CIB rising 1.19 percent to LE32.35.
Cement stocks declined with Suez Cement falling 2.56 percent to LE33.12, which weighed heavily on Helwan Cement, Sinai Cement and Alex Cement, which consequently fell 0.57 percent, 0.47 percent and 2.44 percent, respectively.
Elsewhere, Mibank remained stable at LE34.05, after posting a 4.6 percent drop in net profit in its 1H FY01 results.
Prime Securities S.A.E.
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