Arab, foreign sell-off weigh on Egyptian exchange early Wed.

The indices of the Egyptian Exchange (EGX) has seen a bearish trend early Wednesday, dragged down by Arab and foreign sell-off.

By 10:28 am Cairo time, the benchmark EGX30 index dipped 7.03 points, or 0.05 percent, to 15,621.4 points.

The small- and mid-cap EGX70 index inched down 0.02 percent to 757.28 points, while the broader EGX100 index slipped 0.04 percent to 1,943.65 points.

Likewise, the equal-weighted EGX50 index tumbled 0.14 percent to 2,526 points.

Trading volume amounted to nearly 31.9 million shares exchanged at a turnover of 47.7 million pounds through 1,700 transactions.

Egyptian investors were net buyers with 700,000 pounds, while foreign and Arab investors were net sellers with 644,000 pounds and 55,500 pounds, respectively.

The heavyweight Commercial International Bank (CIB) slid 0.58 percent to 85.51 pounds, with a turnover of 282,000 pounds.