A view from the Egyptian stock market in Cairo (Photo: Reuters)
Egypt's main index slumped on Tuesday, after hitting a three-month high on Monday, as would-be buyers postpone their activities until after an impending religious holiday.
The EGX30 fell 0.2 percent to 5,754 points, and listed stocks registered a weak turnover of LE374 million as investors delayed buying until after the Eid holiday, which will keep the exchange shut for much of next week, a stock trader told Ahram Online.
The index had hit a 9-month high of 5,765 points on Monday, as investors ignored Sunday's violence, in which dozens protesting in support of deposed president Mohamed Morsi were killed in clashes with security forces across the country.
Egyptians were the net-buyers on Tuesday, to the value of LE12.3 million, while foreign investors, who account for 18 percent of trading, were net-sellers.
There were few gainers in the benchmark index of 30 companies, among them real estate main player Six of October Development & Investment (SODIC), which rose 0.81 percent, while its peers Palm Hills Development Company and TMG Holding fell 0.83 percent and 0.39 percent, respectively.
Blue chip and largest-listed firm Commercial International Bank fell 0.26 percent.
Struggling investment bank Egyptian Financial Group-Hermes Holding Company, whose long-time co-chief executive Hassan Heikal quit on Monday, saw its share price slide 0.94 percent.
The broader EGX70 index also fell 0.2 percent on Tuesday.
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