Capital market sheds over EGP 14bn

The Egyptian stock market suffered from notable losses on Sunday, shedding some EGP 14.4bn.The benchmark index EGX-30 declined by 4.06% to close at 9,163.8 points.

The EGX-70, which comprises small and medium sized companies, fell by 3.72% to register 627.43 points while broader index EGX-100 dropped by 3.58% to stand at 1,140.52 points.

Nilex index also recorded a 2.6% decline to close at 842.61 points. The trading day closed with 13 gainers, 161 decliners, and 12 unchanged.

Vice Chairman of the Egyptian Association for Financing and Investment Studies Mohsen Adel attributed the losses to the influence of Arabian and international stock markets, which also declined.