Egypt's stock benchmark shed 0.27 per cent to reach 5,039 points on Tuesday, denting the previous day's gains and giving further proof of the Bourse's ultra-sensitivity to current events.

"Today's move into the red was a typical peak and fall," said Mariam Azmy, financial analyst at HA Securities. "This will be the stock trend for the next few months. We are not going to see any real upward movement until the country regains stability."

The EGX30 closed nearly 1 per cent up on Monday in a restrained echo of stock movements around the world in the wake of Osama bin Laden's assassination. But Tuesday saw business as usual for the muted, post-Mubarak stock exchange.

The broader EGX70 and EGX100 posted respective gains of 0.44 and 0.23 per cent while stock turnover was LE474.3 million, down from last week's high.

Of 186 listed stocks, 85 gained value and 88 declined, with overall sectors divided almost equally between red and green.

Basic resources, chemicals and construction and materials traded up while personal and household products, telecoms and pharmecuticals joined long-term sliders real estate and travel firms in losing value.

Top gainers were Egyptian for Development Building Materials, up 9.87 per cent, and Alexandria Mineral Oil Company, up 6.35 per cent.

In a sign of the Bourse's current sensitivity to bad news, allegations involving HSBC's role in helping Egypt's corruption-mired property developers prompted a dip in banking stocks, despite the international bank's marginal status in the Egyptian marketplace.

"People think there are similar cases that might be unearthed," said Azmy.

One of HSBC's former clients, Palm Hills, lost ground in more ways than one, as trades of its shares were frozen on news the governor of the Mediterranean city of Matrouh had reclaimed 2,229 feddans of the embattled property firm's land due to a financial dispute. Palm Hills shares had lost 3.08 per cent before the freeze.

Amer Group also lost 585 feddans of Matrouh land in a similar move, driving share prices down 2.61 per cent.

"Troubled companies [like property firms] that are somehow involved with corruption will definitely see a high number of share sell-offs," said Azmy. "Also, taking land from these companies will mean plans to build won't come to fruition so profits are expected to fall badly. That will bring shareholders racing to sell off."

Egyptians made up the majority of trade -- 65 per cent -- and were net-buyers, while foreigners were responsible for just under a third and net-sellers to the tune of LE20.8 million.

Individuals marginally edged out institutions with a 54 per cent market share but were net-sellers.