My guess is investors bid up stocks too far the last 2-3 months and were disappointed by the details of the IMF loan.

https://www.bloomberg.com/news/articles/2017-01-18/imf-releases-12-billion-egypt-loan-details-an-investors-guide

There are so many hard stipulations it’s easy to be discouraged by this.

Also and more likely culprit is this

http://en.aswatmasriya.com/news/details/18342

Stamp Duty or Transaction tax on stock trading.