Egyptian Exchange loses EGP 4.3bn

The Egyptian Exchange indices were all down in mid-day trading on Wednesday amid intensive sell-outs by investors, especially for the shares of Emaar Misr.

The capital market lost about 4.3 billion pounds to record 475.1 billion.

The benchmark index EGX 30 dropped 2.16 percent to hit 7,585.8 points.

The broader EGX 70 index of the leading smaller and mid cap enterprises (SME) declined 1.51 percent to reach 412.75 points.

The all-embracing EGX 100 index was down 1.5 percent taking the index to 875.3 points.

After a heavily oversubscribed initial public offer at 3.80 Egyptian pounds, Emaar Misr stock came under heavy selling when it listed on Sunday and its last trade was 3.25 pounds.