EGX Ends Deeper in Red; Losses L.E 10 billion

On Sunday’s closing session, the EGX incurred losses of L.E 10.13 billion as the capital market amounted to L.E 362.360 billion.

The main index, EGX 30 fall 3.55% to close at 4962.42 p. EGX20 downed 4.07% to close at 5746.25 p.

Meanwhile, the mid- and small-cap index, the EGX70 dropped 3.54% to close at 460.85 p. Price index EGX100 dipped 3.33% to close at 794.09 p.

Trades came to 25.194 transactions; worth L.E 347.366 million and volume amounted to 109.678 million securities.

This was after trading in 179 listed securities; 169 down and 7 up while 3 keeping their previous levels.

The main reason for the EGX’s losses was that the Egypt’s liberal MPs have walked today out in protest from a parliamentary vote to select members of a panel which will draft a new constitution. The liberal bloc accused Islamist parties – the majority in parliament – of trying to monopolize the process. MPs will hold 50 of the 100 seats on the panel to draw up a new constitution following the revolution which ousted President Hosni Mubarak last year.