Egyptian Exchange opens Wednesday in red

Sell-offs by Arab and foreign investors have dragged down the indices of the Egyptian Exchange (EGX) early Wednesday.

By 10:22 am Cairo time, the benchmark EGX 30 index slipped 74.33 points, or 0.53 percent, to 13,831.98 points.

The small- and mid-cap EGX 70 index inched down 0.04 percent to 688.75 points, whereas the broader EGX 100 index dipped 0.18 percent to 1,730 points.

Similarly, the equal-weighted EGX 50 index shed 0.43 percent to 2,226 points.

Trading volume amounted to nearly 30.9 million shares exchanged at a turnover of 84.10 million pounds through 3,200 transactions.

Egyptian investors were net buyers with 3.4 million pounds, while foreign and Arab investors were net sellers with 1.75 million pounds and 1.70 million pounds.

The heavyweight Commercial International Bank (CIB) slid 0.76 percent to 81.96 pounds.