CAIRO, March 6 (Reuters) - Egyptian shares fell slightly on Thursday as retail investors took profits on small and medium cap stocks, especially in the housing sector, after stocks rallied a day earlier, brokers said.
"All the small and medium caps are going down... It's just profit taking by retail investors," said Dina Negm of Delta Rasmala Securities.
Retail investors accounted for 55 percent of trade on Thursday, according to stock exchange data, and brokers said retail investors were selling housing stocks for profit.
Shares in Alexandria Real Estate Investment lost 6.8 percent to 585.01 Egyptian pounds ($106.95). Medinet Nasr Housing lost 4.0 percent to 68.50, while Heliopolis Housing lost 0.5 percent to 589.99 pounds.
Sixth of October Development and Investment and Egyptian Resorts bucked the trend, both gaining 2.8 percent to close at 234.50 and 8.70 pounds a share respectively.
"I think this is very healthy... (the shares) have been in a rally for a while," said Mohamed Ashmawy of CIBC Brokerage.
On Wednesday, Egyptian shares climbed in heavy trading with foreign investors targeting big caps.
Index heavyweights Orascom Telecom and Orascom Construction Industries (OCI) both dipped. Orascom Telecom lost 0.4 percent to 79.50 pounds and OCI lost 1.1 percent to 670 pounds.
Commercial International Bank gained 2 percent to 97.90 pounds.
Overall the benchmark CASE 30 index ended 0.1 percent lower at 11,389.93 points. The well-watched Hermes index was almost flat at 99,919.31 points, while the broader CIBC index closed 1.1 percent down at 525.34 points. ($1 = 5.47 Egyptian pounds) (Reporting by Aziz El-Kaissouni)
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