Egypt's benchmark index slid for the fifth straight session on Sunday but the retreat from this month's all-time highs began to lose its momentum, brokers said.
In the absence of foreigners on a Sunday volume was low, and there was little market-moving news.
"The market started off weak but then picked up," said Hassan Choucri of HC Brokerage.
Banking stocks bore the brunt of the slide, with Egyptian American Bank (EAB) shedding 8.6 percent, but most of the financial stocks are still above the levels they held before the new government resumed an economic reform programme.
The benchmark Hermes index slipped 131.39 points, or 0.68 percent, to 19,321.54, after hitting a record close of 20,521.43 last Sunday. The broader CIBC index dipped 0.4 points, or 0.4 percent, to end at 100.12 points.
EAB, one of the banks which had risen sharply on speculation that the government might soon sell its stake, last traded 10.56 pounds down at 112.27 pounds ($18.02) but the official close, based on the daily average, was 116.49 pounds.
Commercial International Bank (CIB) and Misr International Bank (MIBank), two others which have benefited from the recent surge, lost five percent and 2.18 percent, last trading at 29.10 and 30.90 pounds.
Telecoms shares, which have recently hit record hits, ended mixed. Orascom Telecom (OT) gained 0.36 percent to last trade at 180.00 despite news that two of its engineers have been kidnapped in Iraq.
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