The Egyptian stock exchange main index EGX30 plunged 4.06 percent recording 9,163.81 points on a total turnover of LE701 million following global markets slowdown as per the recent IMF projections of a global economic slowdown, according to Sigma Securities Brokerage.
Meanwhile, today marks the first day of the academic year at universities which witnessed a number of riots from students negatively affecting the overall sentiment, Sigma said in research note on Sunday.
The market declined to 9,163.81 points compared to 9,552.01 points on Thursday.
The broader index EGX70 reduced 3.72 percent to 627.43 points.
Therefore, analysts say the market capitalization incurred heavy losses worth LE14.5 billion, recording LE510.2 billion compared to LE524.7 billion on Thursday.
Local institutions were net buyers at LE37.18 million while Egyptian retail investors were net sellers at LE25.05 million.
Meanwhile, Arab and foreign institutions closed as net sellers at LE7.03 million and LE6.09 million respectively.
