Cairo – Mubasher: The Egyptian Exchange (EGX) extended its losing streak at the end of Tuesday’s trading session as the rising concerns over the new coronavirus (COVID-19) outweighed the positive impact of the Central Bank of Egypt’s (CBE) decision to cut interest rates by 300 basis points (bps) in an emergency meeting.
The benchmark EGX30 index fell by 2.41%, ending the mid-week session at 9,201 points.
Likewise, the EGX70 index dipped by 5.75% to 894 points, while the EGX100 index slid by 4.6% to 976 points.
The market’s turnover amounted to EGP 552.23 million after 200.57 million shares were exchanged through about 19,900 transactions.
Meanwhile, the market cap value plummeted by EGP 15.3 billion to EGP 512.47 billion.
Foreign and Arab investors were net sellers with EGP 4.43 billion and EGP 34.4 million, respectively, while Egyptian investors were net buyers with EGP 4.47 billion.
