Cairo - Mubasher: The Egyptian Exchange (EGX) headed south on Tuesday, while the benchmark index EGX30 dropped 2% or 129.9 points to close at 6,321 points, its most low level since 4 December 2013.

Tuesday's total turnover reached EGP 329 million.

The market capitalisation lost nearly EGP 5.2 billion ($667.4 million) to reach EGP 413.4 billion down from EGP 418.6 billion by the end of the previous session.

The heavy weighed Commercial International Bank (CIB) inched down 1.23% to EGP 41.35, with trading value of EGP 54.6 million.

Meanwhile, the shares of Orascom Telecom Media slumped 4.8% to EGP 0.58, with trading value of EGP 35.5 million.

"The market resumed on Tuesday, its downside trend affected by the regional unstable political and economic conditions," said Mahmoud Hossam, Investors Relation Manager at Mubasher Trade.

The market may witness more declines on Wednesday, added Hossam.

The equal-weighted index EGX50 edged down 1.8% to 1,093 points.

The small and mid-cap index EGX70 inched down 0.97% to 350 points; while the broader index EGX100 fell 1.79% to 748.8 points.

Local and foreign investors came as net sellers with EGP 20 million and EGP 1.8 million respectively, while Arab investors came as net buyers with EGP 21.8 million.