Egyptian exchange tumbles 445 pts early Thursday

Big 5

Local and Arab sell-offs weigh on the indices of the Egyptian Exchange (EGX) early Thursday.

By 10:25 am Cairo time, the benchmark EGX30 index lost 445 points, or 3.27 points, to 13,175 points.

The small- and mid-cap EGX70 index fell 1.29 points to 683.9 points, whereas the broader EGX100 index plummeted 1.64 points to 1,712.9 points.

Similarly, the equal-weighted EGX50 index slid 3.23 points to 2,031.7 points.

Egyptian and Arab investors were net sellers with 6.8 million pounds and 17 million pounds, respectively, while foreign investors were net buyers with 23.8 million pounds .

Trading volume amounted to around 33 million shares exchanged through 4,500 transactions at a turnover of 145 million pounds .

The heavyweight Commercial International (CIB) shed 2.26 percent to 79 pounds .