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Foreign sell-off weighs on EGX Tuesday

Foreign sell-off weighs on EGX Tuesday
EGX30 index plummeted 1.78%, finishing the session at 14,645 points

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session in red territory, dragged down by foreign sell-off.

The benchmark EGX30 index plummeted 1.78%, finishing the session at 14,645 points.

The small- and mid-cap EGX70 index fell 1.56% to 684.35 points, while the broader EGX100 index dropped 1.59% to 1,736.03 points.

The equal-weighted EGX50 index went down 1.73% to 2,395 points.

Trading volume amounted to nearly 201.5 million shares exchanged at a turnover of EGP 969.8 million through 24,060 transactions.

Foreign investors were net sellers with EGP 103.8 million, while Egyptian and Arab investors were net buyers with EGP 50.9 million and EGP 52.88 million, respectively.

The heavyweight Commercial International Bank (CIB) fell 1.85% to EGP 67.5, with a turnover of EGP 68.8 million.

Market capitalisation lost EGP 11 billion and closed at EGP 818.033 billion.