CAIRO: The Egyptian Exchange’s indexes sharply declined Monday, due to profit taking transactions, and the market capital incurred 9.577 billion EGP ($1.38 billion) losses.
The benchmark index EGX30 slipped 2.68 percent to close at 7,859 points, compared to 8,075 points on Sunday.
The market capital declined to 482.079 billion EGP, compared to 491.656 billion EGP Sunday, marking a loss worth 9.577 billion EGP.
Further, the EGX70 index for small and mid-caps edged down 2.79 percent, the broader index EGX100 also fell by 2.73 percent and the EGX20 index went down 2.71 percent.
The fall was attributed to Egyptian investors’ sell-offs, while Arabs and foreigners tended to purchase. Egyptians net selling reached 43.144 million EGP, while Arabs’ net purchase registered at 19.74 million EGP and foreigners’ net purchases totaled 23.40 million EGP.