Cairo – Mubasher: The Egyptian Exchange (EGX) closed Wednesday’s trading session in red territory amid foreign and local selling pressures as market capitalisation lost around EGP 15.9 billion.
The benchmark EGX30 index has changed its upward direction, closing the session 354.15 points down, or 1.99%, at 17,460 points, dragged down by declining blue-chip stocks.
The EGX70 index tumbled 1.40% to 861.64 points, and the EGX100 index dropped 1.99% to 2,225 points.
The equal-weighted EGX50 index plummeted 2.16% to 2,960 points.
Trading volume stood at nearly 284.6 million shares exchanged at a turnover of EGP 1.4 billion through 34,500 transactions.
Arab investors were net buyers with EGP 274.4 million, while foreign and Egyptian investors were net sellers with EGP 224.1 million and EGP 50.3 million, respectively.
The heavyweight Commercial International Bank (CIB) fell 2.89% to EGP 88.96 with a turnover of EGP 39.07 million.
Global Telecom’s stock was the sole riser among blue chips with 2.44%.
On the other hand, GB Auto led top losers with 8.68%, followed by Abu Qir Fertilizers and Emaar Misr which shed 7.6% and 6.47%, respectively.
