EGX blue-chip index plunges by 3.16% in morning trading

Mohamed Samir
1 Min Read

The Egyptian Exchange (EGX) EGX30 index plunged by 3.16% in morning trading on Tuesday.

On Sunday, EGX indexes bled heavily amid intense selling by Egyptians leading to market losses of EGP 31.5bn.

At the time EGX halted trading on 70 companies for 10 minutes after stocks fell by 5%.

Afterwards, trading was suspended for more 30 minutes on the back of EGX100 index falling by 5% for the first time since November 2016, amid strong sales by Egyptian investors.

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Mohamed Samir Khedr is an economic and political journalist, analyst, and editor specializing in geopolitical conflicts in the Middle East, Africa, and the Eastern Mediterranean. For the past decade, he has covered Egypt's and the MENA region's financial, business, and geopolitical updates. Currently, he is the Executive Editor of the Daily News Egypt, where he leads a team of journalists in producing high-quality, in-depth reporting and analysis on the region's most pressing issues. His work has been featured in leading international publications. Samir is a highly respected expert on the Middle East and Africa, and his insights are regularly sought by policymakers, academics, and business leaders. He is a passionate advocate for independent journalism and a strong believer in the power of storytelling to inform and inspire. Twitter: https://twitter.com/Moh_S_Khedr LinkedIn: https://www.linkedin.com/in/mohamed-samir-khedr/