Egyptian market continues its decline

A mid-trading stock market session today witnessed a collective decline of 1.1 billion Egyptian pounds in all four Egyptian stock market indices.

The Egyptian stock market continues to submit to negative pressure as a result of the unrelenting selling of stocks by Arab and foreign investors here in Egypt, with devastating consequences.

“The market has yet to recover from the trauma caused by the recent bloodshed in downtown Cairo,” said Ashraf Abdel Aziz, head of institutional sales at Arabeya Online Securities.

Today’s decline resulted in a downtrend of 0.43 percent, affecting the primary market index “EGX30,” which measures the performance of the top 30 components.

There have also been downtrends of 0.72 percent affecting “EGX20” and 1.11 percent depreciating “EGX70.”