Cairo – Mubasher: The Egyptian Exchange deepened its losses by 11:15am Cairo local time (CLT), ignoring official announcements about the non-application of capital gains tax on equity market transactions.
The main index EGX30 retreated 423.9 points, or 3.19%, to 12,880.29 points, while the small and mid-cap index was lower 2.6% to 463.44 points.
The broader index EGX100 lost 2.7% to 1,131.1 points and the equal-weighted index EGX50 fell 4.16% to 1,967.4 points.
Trading value reached EGP 536.5 million after 199.6 million shares were traded.
Market capitalizations lost EGP 15.9 billion to stand at EGP 615.9 billion by 11:15am CLT.
Nationals were net sellers by EGP 21.3 million, while Arabs and foreigners were net buyers EGP 2.3 million and EGP 20.3 million, respectively.
Earlier, the main index fell 223 points or 1.7% to 13,081.28 points by 10:27am (CLT), 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.
