Cairo – Mubasher: The Egyptian stocks closed lower on Tuesday, as the selling activity of local institutions offset early gains.

The benchmark index EGX 30 erased its early gains as it lost 0.30% or 22.21 points to close at 7,539.99 points after it broke above the level of 7,600 points earlier.

The small and mid-caps index EGX70 went up 0.62% to 361.78 points. Similarly, the broader index EGX100 gained 0.56% to close at 771.80 points.

The equal weighted index EGX50 rose 0.56% to close at 1,350.69 points.

EGX30’s largest constituent and Egypt’s largest private bank, CIB shifted its early upside trend to lose 0.19% by the end of Tuesday’s session.

The market capitalization gained EGP 1.52 billion ($171 million) reaching EGP 403.8 billion, compared with EGP 402.3 billion at the previous session.

The market witnessed 247.7million shares changed hands worth EGP 553 million.

Out of 160 stocks traded today, 64 stocks ended in green zone, while 52 stocks ended in red zone and the remaining 44 stocks stayed unchanged.

Arab and foreign investors ended as net buyers with EGP 10.6 million and EGP 2.7 million respectively, while local investors came as net sellers with EGP 13.3 million.