On Tuesday, March 27, investor sentiment remained unchanged pressuring the PAMI downwards once again. The telecom sector was badly hit yesterday as MobiNiL (EMOB.CA) broke its major support level of LE60 for a second time to decline 3.91 percent to LE59.16. OT (ORTE.CA) followed suit to fall 2.6 percent to LE28.12.
The cement sector was again mixed as Helwan Cement HELW.CA) inched up 0.35 percent to LE42.41, while Sinai Cement (SCEM.CA) and Suez Cement (SUCE.CA) fell 0.72 percent and 1.53 percent, respectively.
The housing sector seemed to buck the trend, as talks of the mortgage law being discussed in the current round of the people's assembly rose again. Nasr City H&D (MNHD.CA), Cairo H&D (ELKA. CA) and Al Shams H&D (ELSH.CA) all closed 4.73 percent, 4.62 percent and 3.82 percent respectively, on the upside.
Overall, the PAMI closed down 1.07 percent to 6404.3 whereas the PIPO closed up 0.42 percent to 1647.6.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)