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Egyptians are EGX net sellers worth LE297m, EGX30 downs 1.4% Wednesday

Egyptians are EGX net sellers worth LE297m, EGX30 downs 1.4% Wednesday

Arab Finance: Egyptian stock market closed on Wednesday with the blue chip index EGX30 which lost 1.34% to close at 11,348.37 points, the small- and medium-sized enterprises index EGX70 declined 1.84% to close at 448.75 points and the broader index EGX100 index edged down 1.58% to close at 1,062.14 points.

Trading volume reached 512.833 million shares, with a total value of LE 1.921 billion, over 40,235 trades. Market capitalization was LE563.988 billion.

Today, the gainers reached 29 companies, while decliners were 135 companies, and unchanged were amounting to 21 companies.

Among the volume leaders were Orascom Telecom (OTMT) sank 4.75% to close at LE0.80 and 136.7 million shares in volume; Porto Group (PORT) lost 3.23% to close at LE0.30 and 62.2 million shares in volume; Amer Group (AMER) dropped 3.03% to close at LE0.32 and 59.6 million shares in volume; Palm Hills (PHDC) kept unchanged at LE3.09 and 27.8 million shares in volume and Global Telecom (GTHE) ebbed 2.47% to close at LE5.93 and 25.7 million shares in volume.

Among the best three performers by price were Utopia (UTOP) jumped 27% to close at LE6.07; Egyptian Modern Education Systems (MOED) soared 15% to close at LE8.54 and The Holding Company for Financial Investments (Lakah Group) (HCFI) rose 10.42% to close at LE0.53.

Moreover, the worst three performers by price were General Company for Land Reclamation, Development & Reconstructions (AALR) dipped 8.97% to close at LE14.21; M.B Engineering (MBEN) lost 7% to close at LE4.25 and Alexandria Spinning & Weaving (Spinalex) (SPIN) declined by 6.61% to close at LE1.13.

Egyptian investors formed 78.45% of today's action, while Arab investors made 6.77%, and foreign investors formed 14.78%.

Egyptian investors were net sellers by LE296.8 million, while foreign and Arab investors were net buyers by LE202.8 million and LE94 million respectively.

Individuals made 52.79% of trades, versus 47.20% by Institutions.

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