Local and Arab selling weigh on Egyptian bourse early Tuesday

The Egyptian Exchange (EGX) opened Tuesday’s trading session in red territory, dragged down by local and Arab selling.

By 10:26 am Cairo time, the benchmark EGX30 index fell 2.33 percent to 16,022 points.

The EGX70 index shed 0.84 percent to 824.73 points, while the EGX100 index slid 1.42 percent to 2,090 points.

The equal-weighted EGX50 index lost 2.29 percent to 2,732 points.

Trading volume reached nearly 9.6 million shares exchanged at a turnover of 23.6 million pounds through 729 transactions.

Foreign investors were net buyers with 4.4 million pounds, while Egyptian and Arab investors were net sellers with 2.3 million pounds and 2.1 million pounds, respectively.