EGX slumps over foreign institutions’ sales, benchmark down 2.1%

CAIRO: The Egyptian Exchange (EGX) plunged at the close of Wednesday’s session, hammered by foreign institutions’ sell-offs.

The benchmark index EGX30 tumbled 2.12 percent to end at 7,912 points, down from 8,083 points on Tuesday.

Similarly, the small and mid-cap index EGX70 dropped 2.04 percent to end at 443.22 points, compared to 452.4 points in the last session.

The broader index EGX100 also decreased 1.53 percent to close at 925.9 points.

Market capitalization shed around 6.1 billion EGP ($779.19 million,) totaling 485.6 billion EGP, compared to 491.7 billion EGP in the previous session.