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EGX extends losses in midday trades

EGX extends losses in midday trades
Photo Credit: Arabianeye-Reuters

The Egyptian Exchange (EGX) indices retreated collectively during Sunday's mid-day trading, as the benchmark index EGX30 index fell 1.12% or 98 points to reach the level of 8,633 points on a selling spree from local institutions and retail foreign investors.

Following suit, the small and mid-cap index EGX70 lost 0.3% to 489.5 points, while the broader EGX100 slipped 0.43% to 985 points.

Blue chip stocks declined, led by Commercial International Bank by 1.43%, and followed by EFG-Hermes, Global Telecom, Palm Hills, Pioneers Holding and Amer Group.

Turnover amounted to EGP 884.7 million, while traded volume reached around 51.5 million shares sealed through 6,600 transactions.