On Sunday, January 21, the market was flat on low volumes. Over half of the trading on the CASE was taken up by Lakah Group (HCFI.CA) which rose 1.57 percent on news of Lakah winning a LE122 million contract to provide turnkey equipment at twelve public hospitals. The Telecom sector gained more ground, as market bellwether MobiNil (EMOB.CA) gained 2.15 percent to LE70.71 and Orascom Telecom –OT (ORTE.CA) inched up 1.36 percent to LE42.48.
Most housing & construction sector stocks were dragged down on profit taking following last week’s surge. General Giza for Contracting (GGCC.CA), Nasr City Housing & Development (MNHD.CA) and Al Shams Housing & Development (ELSH.CA) closed down 4.97 percent, 4.20 percent and 3.18 percent respectively. Cairo Housing & Development (ELKA.CA) bucked the trend continuing upward to advance 2.34 percent to LE1.75.
Overall,the PAMI and PIPO closed flat both showing a modest 0.04 percent gain.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
