Egypt bourse reverses early gains, index down by 0.8%

The Egyptian Exchange (EGX) indices reversed early session's gains and shut on Wednesday's session collectively down over contradictory remarks of officials regarding the capital gains tax on profits and dividends of listed securities.

The market capital lost about 1.2 billion pounds to reach 501.18 billion pounds, amid transactions which hit about 440 million pounds.

The main benchmark EGX 30 index went down by 0.82 percent reaching 8,756.31 points.

The broader EGX 70 index of the leading small and medium sized enterprises (SMEs) dropped by 0.43 percent recording 471.72 points.

The overall EGX100 index was down 0.79 percent reaching 968.22 points.