CASE 30 closes today’s session at 1.31% up
Mon 18 Feb 2008 3:23 PM
CASE 30 rose 1.31% at today’s session close to 10476 points, as 9.4 million shares were traded at over EGP 1.8 billion trading value, excluding the transaction of over EGP 3.68 billion executed on Egyptian Container Handling Company. 82.1% of the market’s total trading was dominated by institutions and 17.9% by retailers; Arabs controlled 39% of total trading.
Commercial International Bank (CIB) was the most active by trading value, as it dominated 7.7% of total trading value, or 0.16% up, to close at EGP 91.25. It was followed by EFG-Hermes that controlled 6.9%, thus rising 2.56% to finish at EGP 62.59 a share.
Telecom stocks witnessed relative increases; Orascom Telecom Holding (OTH) rose 1.83% to end the day at EGP 80.57 and Telecom Egypt at 1.32% to close at EGP 21.44. Egyptian Company for Mobile Services (Mobinil) rose 2.25% to finish at EGP 217.85.
Al-Ahleia Investment led advancers, jumping 20.1% to EGP 93.40, at 3799 shares trading volume and over EGP 354.846 thousand. International Company for Investment & Development came second, rising 14.08% to EGP 208.94.
Egyptian Chemical Industries (KIMA) topped decliners, retreating 7.32% to close at EGP 151.58, after 7606 shares were traded at EGP 1.15 million. It was followed by Mansourah Poultry that fell 7.7% to finish at EGP 33.54.
Commenting on today’s performance, Alaa Abdulhalim, United Group Securities CEO, said that the market witnessed solid activity, boosted by the EGP 3.6 billion transaction executed by Dubai Ports World (DP World). Besides, there has been a tangible turnout by investors for buying some medium-scale companies such as Upper Egypt General Contracting Co (UEGC) and Remco for Touristic Villages Construction, while key players took back seats. He pointed out that there is still an upward trend on the short and long run.
