On Wednesday, March 28, investor sentiment remained decidedly bearish. The telecom sector was slammed, as MobiNiL (EMOB. CA) declined 4.02 percent to LE56.78 while Orascom Telecom –OT (ORTE.CA) fell 4.48 percent to LE26.86. The cement sector ended generally lower, as Helwan Cement (HELW.CA) inched down 0.57 percent to LE42.17 while Sinai Cement (SCEM.CA) and Suez Cement (SUCE. CA) dropped 4.47 percent and 0.40 percent, respectively, to close at LE13.25 an LE34.60.
In contrast, Lakah Group (HCFI.CA) saw the highest volumes during the session and jumped 3.68 percent to LE1.41.
Bank stocks moved against the current. Egyptian American Bank –EAB (EABK.CA) was the top gainer, surging nearly limit up to LE33.70. Misr International Bank –MIBank (MIBA.CA) eked out a minor 0.61 percent gain to finish at LE34.89. However, Commercial International Bank –CIB (COMI.CA) was off 0.09 percent to LE33.99 in light trading.
Overall, the PAMI dropped 2.01 percent to 6,275.3 while the PIPO was down 0.63 percent to 1,637.6.
Prime Securities S.A.E.
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