Egypt's benchmark stock index fell for the second consecutive day on Thursday, sliding over 4 percent but paring steeper losses earlier in the session as investors looked to unload holdings after the market's nearly two month closure.
The Egyptian Exchange's benchmark EGX30 index plunged 8.9 percent on Wednesday, its first day of trading since it was shuttered on Jan. 27 amid mounting mass protests that eventually ousted former President Hosni Mubarak. Prior to its January closure, the market lost over 16 percent in two consecutive trading days, reflecting investor fears about the descent into apparent chaos of a country once viewed as the most stable in the Arab world.
The index was down around 4 percent at around 1:10 p.m. Cairo time on Thursday, to 4,934 points. It rebounded from earlier losses of over 6.7 percent that led to a 30-minute suspension of trading just minutes after the opening bell. The broader EGX100 index moved to the black, gaining 0.15 percent after losses of over 5 percent earlier in the day, according to the exchange's Web site.
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