Egypt Market Watch | May 12th 2015: Egyptian equities shed off about EGP 1.4 billion

Cairo, Egypt (Capital Markets in Africa):- The Egyptian Exchange (EGX) indices ended Tuesday’s trading on southward, due to uncertainty on the government decision on the controversial capital gains tax and pressured by institutional sell-offs.

The Egyptian equity market capitalisation shed off about EGP 1.4 billion to settle at EGP 497.8 billion. Likewise, the benchmark index EGX30 fell 0.20%, or 17.51 points to close at 8674.34 points. Also, the small and mid-cap index declined by 0.91% to trade at 464.69 points, while the broader index EGX100 fell by 0.62% to 959.1 points. Tuesday’s turnover amounted to EGP 324.9 million, while traded volume reached 98.7 million shares. Egyptian investors were net sellers by EGP 37.7 million, while foreign investors and Arab investors were net buyers by EGP 26 million and EGP 11.7 million in a row.