CAIRO: The Egyptian Exchange (EGX) lost ground at the close of Monday’s session, hurt by profit taking activities following the market rally over Cabinet’s decision to suspend capital gains’ tax for two years.
Hammered by selling pressures from institutions, the benchmark index EGX30 lost 0.78 percent to end at 9,050 points, down from 9,122 points on Sunday.
The small and mid-cap index EGX70 also fell by 0.77 percent to end at 484.3 points, compared to 488 points in its last session. The broader index EGX100 declined 0.66 percent as well, registering 1,009 points.
Market capitalization shed around 2.5 billion EGP ($327.71 million,) totaling 506.1 billion EGP, down from 508.6 billion EGP Sunday.