EGX30 starts session in red as CIB shares plunged 8.78%

The Egyptian Exchange (EGX) starts Sunday’s trading session in the red territory as the shares of the Commercial International Bank – Egypt (CIB) decreased 8.78 percent to 60.75 Egyptian pounds.

The decline of the CIB shares casts a shadow over the performance of the rest of the shares, particularly as the CIB has the largest relative weight on the EGX.

The main EGX30 index slumped by 4.2 percent to reach at 10,529 points, while the market capitalization incurred losses of 13 billion Egyptian pounds pressured by foreign and Arab selloffs.