Egypt's market slid sharply in the last three sessions due to strong selling pressure taking place in most of the stocks, with the EGX market capital losing more than LE18.9 billion (US$2.5 billion).
The benchmark index EGX30 fell by 1.92 percent on Tuesday, recording 8,330.52 points, its lowest level since mid-Dec 2014.
Meanwhile, the broader EGX70 index and the EGX100 index dropped by 3.09 percent and 2.2 percent, respectively.
"Market players have blamed the sell-off on regulations issued this month for taxes on capital gains and dividends," said a Reuters report.
"Another concern is Egypt's continuing shortage of foreign currency, which hurts companies that rely on imports of goods, feedstock or equipment," the report added.
Meanwhile, both Arab and foreign institutions were net buyers, recording net flows of LE8.6 million and LE37.7 million respectively, while local institutions were net sellers, recording net flows of LE25.3 million.
The EGX market capital lost a total of LE7.92 billion ($1.04 billion) on Tuesday, hitting LE488.37 billion, compared to LE496.29 billion on Monday.
