Egyptian Stock Exchange (File photo: Reuters)
Egypt’s stocks resumed the downturn on Wednesday after they slightly rebounded during the last trading session with foreign investors remaining the only net buyers.
The market’s benchmark EGX30 dropped 1.3 percent to register 7,156 points in a session that witnessed a weak daily turnover reaching some EGP 159.6 million.
Out of 171 listed stocks, only 20 saw gains while 107 declined.
Global Telecom was the most traded share and the only gainer among the main stocks, rising 2.46 percent to EGP 3.33 per share.
The heavyweight Commercial International Bank (CIB) dipped 1.45 percent to close at EGP 40.99 per share.
Egypt’s property developer Talaat Moustafa Group (TMG) fell 2.73 percent to EGP 5.35 per share, meanwhile the country’s leading investment bank EFG Hermes down 1.18 percent to EGP 10.92 per share.
Broader index EGX70 slumped 1.16 percent.
*The official exchange rate for $1 = EGP8.78