Stock market loses LE2.3 billion

Stock indices dropped on Monday, with the exchange seeing a LE2.3-billion dip by the end of the day's trading.
 
The main EGX30 index fell by 0.83 percent to 5,620 points, the small and medium shares EGX70 index fell by 0.1 percent to 486.81 points, while the broader EGX100 index went up by 0.23 percent to hit 811.81 points. 
 
Market capital stood at LE377.7 billion, after a record LE380 billion in Sunday’s trading, losing LE2.3 billion.
 
Stock indices plunged collectively on Sunday amid intense selling by foreign and Egyptian investors against the backdrop of a court ruling returning the ownership of the Nile Cotton Ginning Company to the state. Investors doubt the ruling could be implemented.
 
Edited translation from Al-Masry Al-Youm