Egypt's market incurred heavy losses on Sunday for the second session in a raw, with benchmark index EGX30 dropping 3.19 percent, reaching 8,607.66 points and a LE417.5 million turnover, according to the data from the Egyptian Exchange.
"The EGX 30 sled sharply as selling pressure continued forcing the index to break to a new 3 months low closing on the session’s low," Blom Egypt Securities said in research note.
Meanwhile, the broader EGX70 index and the EGX100 index also dropped by 3.15 percent and 2.78 percent respectively.
Local institutions were net sellers, recording net flows of LE100.961million, while foreign and Arab institutions were net buyers, recording net flows of LE27.31Mn and LE14.Mn respectively.
EGX market capital lost LE6.45 billion (US$857million), to hit LE502.76 billion, compared to LE509.3 billion on Thursday.
