Stock market loses LE2.4 billion on Monday

Stock indices fell at the end of Monday’s trading session despite the aid package of the Gulf countries, with Arab investors selling against purchases by foreign and Egyptian investors.
 
Total trading reached LE218.8 million through 15,200 transactions and the market capital lost LE2.4 billion to stand at LE353.7 billion.
 
Mohamed Shaarawy, a financial analyst, attributed the drop to a rise in Sunday’s session that prompted investors to sell the next day and make profits.
 
The main EGX30 index fell by 1.07 percent, the small and medium shares index EGX70 fell by 0.49 percent to close at 5244.5 points and the broader EGX100 index fell by 0.62 percent to 748.5 points.
 
Financial analyst Wael Enaba said the drop should not raise concerns as it is but a process of switching financial centers for investors.
 
Edited translation from Al-Masry Al-Youm