The market seemed to lack momentum on Sunday, August 26, while investors appeared to be out enjoying the last summer week. Market activity was slow in the first three hours of the session, although the pace quickened later on, with UBE topping both market volume and value, executing 733,000 shares at a value of LE9.6 million, while gaining 4.98 percent to close at LE13.91.
The PAMI index reflected the day’s general lull, barely moving, as it inched down 0.23 percent ending the session at 6,083 points on a shallow volume of 952 thousand shares.
The telecom sector stocks proved resistant to trade yesterday, with ECMS, the market blue chip, trading a minimal 6.3 thousand shares. Orascom Telecom witnessed relatively more activity, however declined 0.55 percent to close at LE17.97.
Suez Cement also lost ground yesterday with its value falling 2 percent at a close of LE32.57. Media Production did not escape the downward trend, as traders dumped a total of 235,552 shares pushing the stock approximately 2 percent lower.
Financial leader CIB however, appeared to outperform the market gaining 0.83 percent, with 52,390 of its shares exchanging hands.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
