CAIRO: The Egyptian Exchange (EGX) lost ground at the open of Monday’s session, hammered by investors’ bearish sentiment over the death of 22 football fans Sunday evening in Cairo.
The benchmark index EGX30 lost 0.36 percent, registering 9,921 points, compared to 9,957 Sunday. Also, the small and mid-cap index EGX70 fell by 0.15 percent to hit 601 points, up from 602 points in its last session. The broader index EGX100 decreased by 0.23 points, recording 1,181 points.
Chief technical analyst at Helwan Securities, Ahmed Abdel Rahman, attributed the slip to the football fans’ death.
Security forces told Youm7 the deaths were caused by a stampede and tear gas inhalation amid attempts to force their way inside the Air Force Stadium.
“The benchmark gave negative signs of inevitable short-term correction,” Abdel Rahman told The Cairo Post.
Market capitalization shed around 500 million EGP ($65.52 million,) totaling 636.2 billion EGP, compared to 536.7 billion EGP Sunday.