Losses bleeding still on

The 25 January Revolution, like any other, had a cost and the stock exchange paid its part dearly. Though closed for almost six weeks to absorb the shock of toppling the regime, the local bourse has not been able to recover in the aftermath.

On Tuesday, the benchmark index EGX30 closed the day with a 2.82 per cent decline reaching 4.971 points. Total market losses are estimated at LE10 billion in what is considered to be a black Tuesday.

On Monday, EGX30 slumped to an eight- week low, down 2.9 per cent as investors fled the market for fear that anti- government protests may escalate in what one analyst described to Reuters by saying: "We are sitting on top of a volcano and no one knows what the outcome of all of this will be." The losses brought the overall market decline since the beginning of the year to 28.73 per cent.