(Photo by Ahmed Al-Malky)
The capital market’s index all witnessed a decline on 9 February, the first day of Russian President Valdimir Putin’s visit to Egypt. The benchmark index EGX-30 dropped by 0.74% to reach 9884.46 points.
Clashes between police forces and Zamalek fans erupted on the evening of 8 February, leaving at least 22 football fans dead, according to official figures.
This is the third consecutive day for the main index to slide down. The small and medium enterprises index EGX-70 inched down by 0.40% and registered 599.61 points. Broader index EGX-100 stood at 1178.58 points, marking a 0.47% decline.
The marker lost EGP 3.8bn and the trading day closed with 38 gainers, 106 decliners and 25 unchanged.
“The lack of liquidity and anticipation of companies’ financial results are making investors more cautious,” Vice Chairman of the Egyptian Association for Financing and Investment Studies Mohsen Adel said.
On 2 February, the Egyptian exchange’s benchmark index EGX-30 climbed up to over 10,000 points, a first in over six years.
