Stock market continues to decline for third session

The stock indices continued to decline for the third session in a row, collectively affected by the pressure of Egyptian and Arab investors who went for sales against purchases by foreign investors.
The main index EGX30 fell by 1.47 percent to reach 8396.82 points.
The small and medium EGX70 fell by 1.29 percent to stop at 599.52 points, and the broader EGX100 declined by 1.23 percent to close at 1,041.8 points.
The trading volume reached LE813.3 million, after the implementation of LE29.7 thousand transactions. The market capital lost about LE5.2 billion to stop at LE482.2 billion at the end of the trading session. Traders expected the market performance to stabilize after the recent cabinet reshuffle which includes a minister who works on the stock market.
The market will rise again after the recent cabinet reshuffle, and after the end of the financial centers' settlement and the beginning of the new fiscal year, said stock market expert Mohamed al-Husseiny.
Edited translation from Al-Masry Al-Youm

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