CAIRO: Egypt’s bourse ended lower on Wednesday with low trading volumes a dominant theme.
The benchmark index shed 1.2 percent to 4,485 points.
"The volumes are still low and there’s not much news moving the market," said Mohamed Shalaby of Cairo Capital Securities.
Orascom Construction Industries (OCI), the most heavily weighted stock on the index, dropped 1.3 percent.
OCI said on Tuesday it planned to invest up to $130 million in Rwanda in the next three to four years to build a methane power plant.
"I don’t think this news will have a significant effect on the stock as it is part of its core business of infrastructure and was mentioned before as a plan and this announcement was more about the implementation," said Nader Khedr, an investment and capital market analyst.
Citadel Capital was down 3.8 percent while Egyptian textiles firm Arab Cotton Ginning shed 8 percent.
A report in local newspaper Al-Mal had said on Tuesday the trade ministry could impose custom duties on textile imports after complaints that cheap imports were hurting local producers.
