Orascam sends EGX index down by 2.26%

The Egyptian Exchange (EGX) declined last week as the problem between Orascom Construction Industries (OCI) and the tax authority persisted, sending market capital down to 367.2 billion pounds from 374.2 billion the week before. Investors have also been skeptical about the consequences of an anticipated court ruling on March 9 in the Port Said Stadium massacre case. The main benchmark EGX 30 index tumbled by 2.26 percent to 5,366 points. The broader EGX 70 index of the leading smaller and mid cap enterprises SME) dropped by 3.04 percent to 457 points. The all-embracing EGX 100 index followed suit and went down by 3.17 percent to reach 771 points.