Cairo – Mubasher: The Egyptian Exchange initiated the mid-week trading session in the red zone, pressured by foreign investors' selling activity.
The main index EGX30 declined 0.9% to 8,174 points by 10:44am Cairo time.
Likewise, the small and mid-cap index edged down 0.07% to 361.6 points
The broader index EGX100 was 0.4% down to 805.87 points and the equal-weighted index EGX50 fell 0.42% to 1.389 points.
Trading volume reached 18.44 million shares changing hands in 2994 deals at EGP 70.9 million.
Out of 88 stocks traded, 18 were up, 35 down, and 35 flat.
Local and Arab investors were net buyers by EGP 7.11 million and EGP 9.19 million respectively, while foreign investors were net sellers by EGP 16.3 million.
Analysts expected profit-taking on EGX to continue on Tuesday, describing the current downturn as a healthy movement that is to push the bourse forward on the short-term.
Market analyst Ahmed Albagory said "in spite of the expected further declines to 8,100 points, theses corrections do not change the positive outlook as long as the main index holds above 8,000 points".
