Cairo – Mubasher: The Egyptian Exchange (EGX) closed Sunday’s trading session on a negative note with its market cap losing about EGP 17.4 billion amid rising concerns over the spread of the new coronavirus (COVID-19).
The main EGX30 index plunged by 498 points or 4.04%, ending the session at 11,849 points after the heavyweight Commercial International Bank (CIB) slid by 4.7% to EGP 73.4 after generating EGP 57.9 million in turnover.
Market cap lost EGP 17.4 billion to close at EGP 627 billion.
Meanwhile, the EGX70 EWI dipped by 2.72% to 1,140 points, while the EGX100 went down by 2.28% to 1,237 points.
The market’s turnover amounted to EGP 364.3 million, distributed over 140 million shares exchanged through around 19,300 transactions.
Egyptian investors were net buyers with EGP 214.17 million, while Arab and foreign investors were net sellers with EGP 7.76 million and EGP 206.4 million, respectively.
On Saturday, the Egyptian health minister Hala Zayed announced the detection of 33 new coronavirus cases on a Nile Cruise ship bringing, the number of infections to 48.
