Egypt’s bourse indexes suffer big losses at end of Wednesday trading

MENA , Wednesday 15 Mar 2023

Egyptian Exchange (EGX) indexes posted a record losses of 4.2 percent at the close of Wednesday's trading, reportedly recording the bourse’s largest daily loss since the start of the coronavirus pandemic in 2020.

Egypt bourse. AFP
Egypt bourse. AFP


The bourse’s losses reverse gains recorded early Wednesday.

The losses result from selling operations by foreign investment funds and institutions, as well as by Egyptian investors.

The EGX 30 benchmark index, which measures the performance of the largest 30 companies in the Egyptian capital market in terms of their liquidity and activity during EGX transactions, stood at 14,724.44 points.

The capital market closed at EGP 956.8 billion on Wednesday.

It lost EGP 44 billion compared to more than EGP 1 trillion on Tuesday.

The broader EGX 70 EWI of the leading small and mid-cap enterprises (SMEs) shot down 8.22 percent, closing at 2,564.33 points.

The all-embracing EGX 100 index was also down 7.64 percent, ending at 3,811.88 points.

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