Cairo – Mubasher: Egypt’s stock market indices reversed their early rise on Sunday, ending collectively lower, while market capitalisation added around EGP 261.6 million ($33.3 million).

The benchmark index EGX30 slid 0.33% or 23.55 points to close at 7,055.28 points. EGX50 EWI also fell by 0.40% to 1,209.06 points. EGX70, which measures small and mid-cap stocks lost 0.30% to 385.89 points and the broader index EGX100 ended 0.17% lower at 823.56 points.

The equity market continued with rebound that started from the key support level of 6,660, said Waleed Hilal, head of portfolios at Mokattam Securities Brokerage, adding that the movement is still within the long-term downward trend.

CIB, the heaviest weight, fell by 2.56% to EGP 48.42, upon trading 602,000 shares in 478 transactions at turnover exceeding EGP 29 million.

The banks sector accounted for nearly 21.58%, or EGP 87 billion of total capitalisation. It was followed by building with EGP 67.3 billion (%16.65%), then real estate with EGP 48.5 billion (%11.99%).

Sunday’s turnover amounted to EGP 368.3 million, upon trading approx. 168.2 million shares.

Nationals were net sellers by EGP 15.7 million, while foreign and Arab traders were net buyers by EGP 1 million and EGP 14.7 million respectively.

Retail investors were net sellers, while institutions ended as net buyers.

Out of the 165 stocks traded today, 52 moved up, 67 moved down and 46 remained unchanged.