On Tuesday, August 14, the major indices sprinted higher out of the gates confirming the creation of an upward trend as major resistance levels were broken. The PAMI index gapped upwards and advanced 150 points were it remained hanging at 6,433 most of session.
By the end of session, profit-takers emerged and aggressively took control of the market knocking off most blue chips off their highs. Accordingly, the PAMI closed 1 percent down at 6,221.3.
Suez Cement was the only blue chip to miss the rally for the second consecutive day as it dipped 0.32 percent to LE34.30. Other cement stocks such as Helwan Cement and Sinai Cement rose 4.83 percent and 4.03 percent, respectively.
The telecom sector witnessed different gains as OT advanced 4.23 percent and MobiNiL rose 2.73 percent, but both stocks executed their last trades at their day low.
Elsewhere, Lakah Group retained its position as volume leader after trading more than 4.2 million shares accounting for 49 percent of the total trading session to close flat at LE0.38, after touching a new low at LE0.37.
Prime Securities S.A.E.
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