Egyptian Bourse resumes trading, main index drops 6.4 %

The administration of Egyptian Bourse decided to resume trading Sunday after a half-hour suspension due to a drop in its indexes below the allowed levels. The EGX 30 benchmark index thudded down by 6.43 percent to close at 5089.55 points. The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) also tumbled by 4.91 percent, reaching 457.31 points. The all-embracing EGX 100 index followed suit with 5.30 percent, taking the index down to 764.06 points. The Egyptian Bourse earlier on Sunday suspended trading for half an hour after incumbering more than 15.2 billion EGP market loss. Bourse indices have hurtled below the allowed levels. Bourse indexes collectively dropped in the begining of the week amid heavy sales by investors.