Cairo – Mubasher: The Egyptian Exchange (EGX) started Monday’s trading session in red territory, deepening its losses on the back of local sell-offs.
It is worth noting that the EGX’s market capitalisation on Sunday dipped to its lowest level since 31 December 2017 as nearly 135 stocks dropped, in line with the stock exchange manipulation case.
By 10:25 am Cairo time, the benchmark EGX30 index shed 66.13 points, or 0.45%, to 14,689.44 points.
The small- and mid-cap EGX70 index slipped 0.21% to 732.06 points, while the broader EGX100 index tumbled 0.21% to 1.860.65 points.
The equal-weighted EGX50 index went down 0.82% to 2,338 points.
Trading volume amounted to nearly 16.54 million shares exchanged at a turnover of EGP 26.1 million through 1,400 transactions.
Egyptian investors were net sellers with EGP 380,200, while foreign and Arab investors were net buyers with EGP 148,200 and EGP 232,020, respectively.
The heavyweight Commercial International Bank (CIB) fell 0.95% to EGP 82.07, with a turnover of EGP 50,500.
On Saturday, 16 September, the Cairo Criminal Court has ordered the arrest of ousted Egyptian President Hosni Mubarak’s two sons for violating the rules of the EGX and the Central Bank of Egypt (CBE) to make unlawful profits through dealing in shares of Al Watany Bank of Egypt (AWB).
