The financial monitory association said the Egyptian stock market lost 80 billion EGP (U.S. $13.4 million) from July to September of 2011, in addition to the decline of the stock market main index EGX30 at rate of 23 percent. The association attributed the decline of the main index to the intense sales processes by foreign investors and institution, due to local political incidents. Association said the incidents at the Israeli embassy beside the American debts' crisis led to the low performance of the stock market. It should be noted the stock market main index EGX30 lost 1235.65 points during the end of the year to close with 4137.35 points, whereas it closed with 5373 points during the end of the year in 2010. Medium and small company index EGX70 declined at the rate of 27.2 percent, losing 171.23 points, to close with 458.4 points during the end of the year. Whereas the broadest index EGX100 declined at the rate of 27.26 percent, losing 265.22 points to close with 707.65 points. In the same context, the association said the capital of the market declined by 20 percent, reaching 319.2 billion EGP (U.S. $53.48 million) from 399.7 points in the beginning of the year. Therefore the capital of local production declined from 40 percent in December 2010 to 26.5 percent in September.
