On Thursday, January 18, the market finished the week on low volumes with price declines across the board. Telecoms led the market lower, as local GSM operator MobiNiL (EMOB.CA) was off 0.76 percent to LE69.22 and Orascom Telecom –OT (ORTE.CA) closed 3.63 percent lower at LE41.91.
Blue chip Commercial International Bank – CIB (COMI.CA) bucked market trend, closing up 0.61 percent at LE37.70. Housing and construction stocks ending mixed, although most stocks in these sectors faced downward pressure. Cairo Housing &Development (UNIT.CA) finished the session limit down at LE1.71 while aic (AICR.CA) plunged 4.68 percent to LE4.07.
Nasr City Housing &Development (MNHD.CA) was down 4.65 percent to LE32.62, but Mahmoudia for Contracting (MGCC.CA) managed to eke out a modest 0.70 percent gain to finish at LE5.78.
Overall, the PAMI shed 0.91 percent to 7,410.9 while the PIPO was off 0.61 percent to close at 1,784.7.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
