Egyptian bourse ends week with 3.8m EGP in losses

The three main Egyptian stock indexes finished down this week largely due to intense Arab and foreign sell-offs and massive losses in the U.S. stock exchange.

Despite heavy buying in the later stages of today’s session, the exchange had lost 3.8 million EGP (U.S. $637,511) at the end of today's trading.

The Egyptian market gained 11 billion EGP (U.S. $1.8 billion) yesterday.

The main EGX 30 index fell 1.4 percent to end the day at 4,595 points; the medium-market EGX 70 shed 1.5 percent with overall transactions reaching 376.6 million EGP (U.S. $63.1 million).

Foreign investors were responsible for 29.87 percent of transactions, equaling 4.4 million EGP (U.S. $738,170), and Arab investing accounted for 5.17 percent of transactions, equaling 20.6 million EGP (U.S. $3.5 million).