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EGX loses EGP 8.7bn in market cap at Tuesday's close

EGX loses EGP 8.7bn in market cap at Tuesday's close
The market’s turnover reached EGP 995.9 million

Cairo – Mubasher: The Egyptian Exchange (EGX) closed Tuesday’s trading session on a negative note, pressured by local selloffs.

The main EGX30 index fell by 1.38% to end the first session in Ramadan at 10,305 points as the heavyweight Commercial International Bank-Egypt (CIB) slid by 2.21% to EGP 54, its lowest level since December 2018, at a turnover of EGP 310 million.

Meanwhile, the small- and mid-cap EGX70 EWI dropped by 2.4% to 1,922 points, while the EGX100 EWI declined by 1.97% to 2,854 points.

Likewise, the EGX50 EWI retreated by 1.69% to close at 1,994 points.

The market cap value plunged by EGP 8.7 billion to register EGP 644.471 billion.

Local investors were net sellers with EGP 894.7 million, while foreign and Arab investors were net buyers with EGP 819.06 million and EGP 75.6 million, respectively.

The market’s turnover reached EGP 995.9 million after 399.8 million shares were exchanged through about 33,200 transactions.