Cairo – Mubasher: The Egyptian Exchange (EGX) saw a slide in Thursday's mid-day trading session on local and foreign selling pressures.
By 11:30am Cairo time, the benchmark index EGX30 inched down 2.5 points, or 0.03%, to stand at 7,935 points.
The small and mid-cap index EGX70 fell 0.26% to 345 points.
Likewise, the broader index EGX100 was lower 0.15% to 788.5 points and the equal-weighted index EGX50 slid 0.20% to 1,323 points.
Egyptians and foreign investors were net sellers by EGP 317,000 and 21.3 million, while Arab investors were net buyers by EGP 21.6 million.
Trading value reached EGP 196 million after 57 million shares were traded by 11:35am Cairo time.
Domty was the most active stock in terms of value after registering EGP 84.4 million for trading 12,900 shares.
In terms of volume, Orascom Telecom was the most active after 13.5 million shares changed hands at more than EGP 7.2 million.
Today, market analyst Ahmed Al-Bagory said the equity market suffers from a profound lack of positive data that earlier pushed the EGX30 to the lowest level this month at 7,916 points, which is a main support area presently.
Therefore, traders are closely watching the central bank's decision over key policy rates, which could have, if hiked, negative consequences on the Egyptian Exchange (EGX), Al-Bagory indicated.
