CAIRO: Egypt’s CASE 30 stock index closed 3.1 percent down at 5,492 points on Sunday after recovering from an initial plunge of 9.01 percent amid fresh concerns about the global financial crisis.
The CASE 30, which lost more than 20 percent of its value amid widespread selling on global stock exchanges last week, had closed at 5,667 points on Thursday, the last day of trading before the weekend in Egypt.
The index dropped sharply to almost 5,100 points on opening Sunday after the weekend before rising slightly to 5,249 points and later recovering further.
The bourse’s most heavily traded stock by turnover, Orascom for Construction Industries, dropped 1.12 percent, while major investment bank EFG-Hermes shares fell 6.12 percent.
“Despite the attractive prices, caution is still advised due to the turmoil in the regional and global markets, brokerage firm Sigma Securities said on its website.
The index has lost more than half its value in six months after hitting a high of 12,000 points in May. -AFP
