The Egyptian Exchange (EGX) lost about 5.7 billion pounds at the close of trading on Tuesday pushed by sales of Arab and foreign institutions amid fears of further declines in oil prices to hit a record low in 12 years.

The main benchmark EGX 30 index went down by 2.58 percent reaching 6,463.92 points.

The broader EGX 70 index of the leading small and medium sized enterprises (SMEs) dropped by 0.56 percent recording 372.34 points.

The overall EGX 100 index declined by 0.87 percent reaching 757.8 points.