Egypt stock market lost LE12.5 billion (US$1.7 billion) on Tuesday's session, with the EGX30 Index in closing 3.58 percent down to a record 8,515.66 points.
"Egyptian stock exchange followed the Arab market’s negative performance that was affected by the significant decline in oil prices," Sigma Securities Brokerage said.
Meanwhile, the EGX70 and the EGX100 also closed on a strong negative note, down 4.35 percent and 3.43 percent respectively.
Arab and local institutions closed as net buyers recording weak net flows of LE8.43 million and LE1.17 million respectively as opposed to foreign institutions that were net sellers recording a net flow LE80.06 million.
On the other hand, Egyptian retail investors were net buyers at LE75.09 million.
Stock markets in the Gulf fell sharply on Tuesday after the price of Brent crude oil dropped below $59 per barrel for the first time since 2009, Saudi Arabia's stock index posted its biggest daily loss in six years, the Dubai equities benchmark tumbled 7.7 percent Abu Dhabi's index dropped 4.9 percent, Qatar's bourse fell 3.6 percent, Kuwait lost 2.4 percent and Oman was down 2.0 percent, according to Reuters
