Cairo – Mubasher: The Egyptian Exchange started Thursday on a negative note as the main index EGX30 fell 223 points or 1.7% to 13,081.28 points by 10:27am Cairo local time (CLT).
The small and mid-cap index EGX70 lowered 0.8% to 471.99 points.
Likewise, the broader index EGX100 and the equal-weighted index EGX50 opened down 0.9% and 2.1%, respectively.
Trading value stood at EGP 127.3 million after 38.3 million shares were traded by 10:30am CLT.
Foreign investors were net sellers by EGP 2.9 million, while nationals and Arabs were net buyers by EGP 1.1 million and EGP 1.8 million, correspondingly.
This red start came after the International Monetary Fund (IMF) announced that Egypt will start imposing the capital gains tax on bourse trades no later than its fiscal year 2017-2018.
