Egyptian Exchange opens Thursday in red

Big 5

The Egyptian Exchange (EGX) has seen a downward early Thursday as the US Federal Reserve raised interest rates.

By 10:24 Cairo time, the benchmark EGX 30 index dipped 26.10 points, or 0.2 percent, to 13,052.04 points.

The small- and mid-cap EGX 70 index slipped 0.14 percent to 675.22 points, while the broader EGX 100 index shed 0.17 percent to 1,689.94 points.

The equal-weighted EGX 50 index tumbled 0.96 percent to 2,133 points.

Trading volume amounted to 16.1 million shares exchanged at a turnover of 84.3 million pounds through 2,007 transactions.

Foreign investors were net sellers with 13.2 million pounds, while Egyptian and Arab investors were net buyers with 11.5 million pounds and 1.7 million pounds, respectively.

The heavyweight Commercial International Bank (CIB) jumped 2.13 percent to 76.03 pounds, with a turnover of 18.5 pounds.