CAIRO: The Egyptian Exchange (EGX) widened its plunged for a fourth straight day at the close of Wednesday’s session, hurt by foreign institutions’ sell-offs triggered from concerns over Greece financial crisis, which may end with Athens out the European Union.
The benchmark index EGX30 tumbled 2.6 percent to end Wednesday at 7,551 points, down from 7,753 points on Tuesday.
Market capitalization shed around 6.4 billion EGP ($817.35 million,) totaling 472.9 billion EGP, down from 479.3 billion EGP Tuesday.
The market bellwether, CIB, plummeted 3.87 percent to close at 50.93 EGP per share, compared to 52.98 EGP per share on Tuesday.
Further, the small and mid-cap index EGX70 dropped 1.55 percent to end at 412.55 points, compared to 419 points in its last session. The broader index EGX100 also dipped 1.69 percent to close at 873.6 points.
Egypt’s market rode a sharp downward wave amid growing concerns over wide-scale militant attacks in Egypt’s restive North Sinai shortly after the assassination of Attorney General Hisham Barakat in a car bombing Monday last week.