The Egyptian Exchange bell is seen at the stock exchange in Cairo (Photo: Reuters)
Egypt's benchmark stock index declined on Monday following the previous session's considerable rise, as investors made profits.
The EGX30 fell 0.76 percent to record 6801 points.
"It is expected that the market will decline as investors seek profits," Mostafa Badra, Cairo-based market expert told Ahram Online.
This week's opening session saw a considerable rise as Fitch Ratings raised Egypt's economic outlook from negative to stable.
Foreigners were net-sellers for the second session this week but at a higher value of LE39 million.
Some 178 stocks were traded in Monday session achieving turnover of LE575.7 million; of those only 58 were gainers.
Two of the top ten market caps, Qatar National Bank Alahly and Global Telecom Holding, did not trade. The remaining eight declined.
In the telecommunications sector, Telecom Egypt and Egyptian Company for Mobile services (Mob nil) inched down 1.3 and 0.7 percent to close at LE14.41 and LE130.92 per share respectively.
Market bellwether Commercial International Bank also fell 1.03 percent to close at LE32.66.
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