The Egyptian Exchange (EGX) recorded the fourth biggest daily loss in its history on the backdrop of fears of imposing a capital gains tax on shares.
The market capital lost about EGP 19 billion to reach EGP 460.2 billion, raising the losses incurred in the last three trading sessions to EGP 37.2 billion.
The main benchmark EGX 30 index went down by 4.2 percent, reaching 7,894.73 points, sliding to its lowest in two months.
The broader EGX 70 index of the leading small and medium sized enterprises (SMEs) dropped by 4.88 percent recording 560.73 points.
The overall EGX 100 index plummeted 4.42 percent reaching 985.24 points.