EGX loses ground on Russian plane crash
The Egyptian Exchange - YOUM7 (Archive)

CAIRO: The Egyptian Exchange (EGX) plunged Sunday, hammered by an investor bearish sentiment among local and foreign institutions after a Russian plane crashed Saturday in the Sinai Peninsula.

All 224 passengers and crew were killed when Russian airliner A321 crashed into a mountainous area in center of Sinai. The plane was heading from Sharm el-Sheikh Airport to Russia, when it lost radar contact only 23 minutes after taking off.

The benchmark index EGX30 slipped 1.26 percent to end at 7,413 points, up from 7,508 points on Thursday.

The small and mid-cap index EGX70 also dropped 1.91 percent to close at 390.2 points, compared to 397.8 points in its last session.

Similarly, the broader index EGX100 declined 1.07 percent to close at 843.25 points after 852.3 points on Thursday.

Market capitalization shed around 4.6 billion EGP ($572.7 million,) totaling 448.5 billion EGP, compared to 453.1 billion EGP in the previous session.

Recommend to friends

Leave a comment