On Monday, August 20, lack of news left the market trading sideways as the PAMI index remained early flat at 6,174.1. The telecom sector was split as OT climbed 1.66 percent to LE19.02, whereas MobiNiL remained stable hovering around LE54.48.
The housing sector was also mixed as sector leaders Nasr City H&D and Cairo H&D rose 4.63 percent and 3.06 percent, respectively. Meanwhile, El Shams H&D and United H&D declined 4.38 percent and 3.46 percent, respectively.
On the financial side, banking stocks were faced with minor losses as CIB inched down 0.14 percent and EAB fell 0.52 percent. However, MIBank fell limit down to LE33.01 dragged by its GDRS.
In the food sector, Eastern Tobacco managed to break out of the LE55 key level, while Al Ahram Beverages fell limit down to LE39.43, approaching its year low of LE39.25.
Prime Securities S.A.E.
© 2001 Mena Report (www.menareport.com)
