Cairo – Mubasher: The Egyptian Stock Exchange (EGX) opened Thursday’s early trading on a lower note as the benchmark index fell 1.17% or 71 points to 5,991 points.

CIB, Global Telecom, EFG-Hermes, and OTMT opened the session lower by 1.64%, 1.08%, 1.03%, and 1.75% respectively.

The equal-weighted EGX50 dipped by 0.56% to 1,084 points. The small and mid-cap EGX70 dropped 0.13% to 350.6 points. The broader index EGX100 slipped 0.17% to 704.6 points.

Trading value reached EGP40 million after 21 million shares were traded over 2,500 transaction.

Arab and foreign investors were net sellers by EGP838,000 and EGP232,000 respectively, while nationals were net buyers by EGP1.1 million.  

EGX indices will likely move sideways in the coming days, hurt by volatile oil prices and global economy outlook, Ayman Fouda, analyst, said earlier today.