Cairo – Mubasher: The Egyptian Exchange (EGX) indices moved lower in Wednesday’s midday trade, pressured by institutions sell-off.
The benchmark index EGX30 dropped 1.44% or 92 points reaching the level of 6,371 points.
The equal-weighted index EGX50 lost 1.3% to 1,125 points.
Similarly, the small and mid-cap index EGX70 declined 1.4% to 367 points, while the broader index EGX100 went down 1.2% to 748.5 points.
Tracking stocks performance, the leading stocks of Palm Hills and Commercial International Bank fell 7.2% and 3.5% respectively.
Foreign and Arab investors stepped in as net sellers with EGP 21.4 million and EGP 7.5 million respectively while local investors came out as net buyers with EGP 28.9 million.
Institutions came as net sellers, while retail traders were net buyers.
The market witnessed in, Wednesday’s midday trade, trading 89 shares worth EGP 256 million.
