Traders are seen working below the Egyptian Exchange bell at the stock exchange in Cairo (Photo: Reuters)
Egypt's main index was back in the red on Monday, dropping 0.44 percent to sit at 5,448 points, as Arab investors became the main net sellers.
On Sunday, the EGX30 main index had increased by 0.9 percent to sit at 5,473 points, continuing a streak of gains that started last week, though market experts said a full recovery was still unlikely.
The stock exchange lost over 300 points following the move by Egyptian security forces to clear two Muslim Brotherhood-led protest camps in Cairo on 14 August, triggering a nationwide wave of violence that claimed the lives of over 900 people.
The market, however, began a process of slow recovery on 19 August, reflecting relative calm on the streets following the imposition of a curfew and emergency law.
Total turnover strengthened to LE419 million on Monday, while Egyptian investors, who make up 77 percent of the market, were the only net-buyers, to the tune of LE38.5 million. Arab investors became the main net-sellers, for LE32.6 million.
Most of the EGX30 shares were decliners, including investment bank Egyptian Financial Group-Hermes Holding Company, which fell 1.29 percent, and other bellwethers like Commercial International Bank, which lost 0.11 percent and Orascom Telecom, down 0.45 percent.
Real estate stocks Palm Hills Development Company and TMG Holding dropped 1.23 percent and 0.98 percent respectively, while Six of October for Development and Investment bucked the trend, gaining 0.47 percent.
Meanwhile, the broader EGX70 index gained 0.38 percent.
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