Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in a red territory, dragged down by foreign and Arab sell-offs.
The benchmark EGX30 index has deepened its early losses and dropped 2.39%, finishing the mid-week session at 12,624.74 points.
The small- and mid-cap EGX70 index fell 1.04% to 665.39 points, while the broader EGX100 index declined 1.28% to 1,660.12 points.
Similarly, the equal-weighted EGX50 index plummeted 2.35% to 2,083 points.
Trading volume amounted to around 151.9 million shares exchanged at a turnover of EGP 628.6 million through 23,380 transactions.
Egyptian investors were net buyers with EGP 69.9 million, while foreign and Arab investors were net sellers with EGP 49.2 million and EGP 20.6 million, respectively.
The heavyweight Commercial International Bank (CIB) fell 2.47% to EGP 70.7, with a turnover of EGP 101 million.
Market capitalisation lost EGP 13.48 billion and closed at EGP 721.9 billion.
The CIB fell by 13% during the past two weeks, in line with the tax amendments decision on treasury bills and bonds.
Over the past two weeks, CIB's stock retreated to EGP 70 from EGP 80, pressuring the benchmark EGX30 index to plunge by more than 1,000 points.
