Live broadcast of scenes from the trial of former Egyptian President Hosni Mubarak, in court on a medical bed, and the presence of his sons and many of the key figures of his ousted regime behind bars in a metal cage in a Cairo court on Wednesday, drove investors' attention away from stocks. The development led trading volumes in the Egyptian Stock Exchange to reach one of its lowest levels in years, with less than US$ 40 million worth of traded shares. Egyptian stocks lost again on Wednesday, after dropping nearly two per cent Tuesday and all three key indices fell in the third day of trading in Ramadan in Egypt.

Stocks made up some of its losses when Mubarak's televised trial was declared adjourned to mid-August.

All eyes will Thursday be on the trial of Mubarak's former interior minister and his assistants, which will be conducted in consecutive daily sessions.

The main EGX30 index, measuring the performance of the heavyweight stocks, stayed below the psychologically important barrier of 5,000 points it broke on Tuesday.

EGX30, the preferred target of institutions and foreigners, fell 0.88% on Wednesday to finish at 4,923 points.

The index is now more than 700 points below the close of 27 January, when trading was halted for nearly two months at the height of the upheavals that overthrew president Hosni Mubarak.

The main index has lost nearly 31% of its value in 2011.

The EGX70 of small and medium shares, the usual preferred target of Egyptian retail investors, also lost 0.33% but managed to stay comfortably above the psychological barrier of 600 points, near the 628 mark, after having broken 600 down recently and it is now nearly 13% down for the year.

Led by Egyptians' buying streak, the small and medium share index outperformed the main index since the resumption of trading in the Egyptian Bourse on 23 March after a 55-day halt during the unrest that brought about the peaceful 25 January revolution.

Finally, the price weighted index, the EGX100, which is down nearly 20% for the year, finished down 0.44% on Wednesday and it closed at 935 points, while 85 shares finished up, 73 closed down and 15 were unchanged.

Pana 04/08/2011