On Thursday, March 22, the market continued to slide on low volumes. Investors focused on blue-chip shares, which moved lower across the board. Telecoms led the market lower, as MobiNiL (EMOB.CA) dropped 1.89 percent to LE60.36 and Orascom Telecom –OT (ORTE.CA) plunged 3.58 percent to finish at LE28.25.
Some cement stocks swam against the downward current. Suez Cement (SUCE. CA) was up 1.00 percent to close at LE35.38. Helwan Cement (HELW.CA)inched 0.53 percent higher to close at LE41.95. Bank stocks generally moved lower. Commercial International Bank –CIB (COMI. CA) closed down 0.85 percent at LE33.99. MIBank (MIBA. CA) fell 0.41 percent to LE34.06. Conversely, NSGB (NSGB. CA) jumped 4.53 percent to LE30.22.
Overall, the PAMI fell 1.69 percent to 6,380.3 while the PIPO moved 1.23 percent lower to 1,635.1.
Prime Securities S.A.E.
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