Market watch: Egyptian stocks end in green Thursday; TAQA Arabia drops 20 percent

Ahram Online , Thursday 13 Jul 2023

Despite a drop earlier in the week, the Egyptian Exchange (EGX) closed in positive territory on Thursday. TAQA Arabia was still the market's standout performer, despite a 20 percent tumble, as it remained significantly higher than its initial value of EGP 0.5. Meanwhile, gold prices saw a slight increase from their July levels.

Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.

 

Stock market

Closing at 17,342.29 points, the benchmark index EGX30 rose by 1.16 percent.

The EGX70 index closed at 3,428.07 points, up 1.06 percent.

Closing at 5,084.4 points, the EGX100 index rose by 0.99 percent.

The market capitalization increased by EGP 19 on Thursday, reaching a total of EGP 1.168 trillion.

Rakta Paper Manufacturing was Thursday's top gainer on the EGX, closing at EGP 13.08 per share after surging 20 percent.

TAQA Arabia had the biggest loss for the day, dropping by 20 percent and closing at EGP 12.7.

 

Gold prices

24-carat gold rose by EGP 5.75 per gram, closing at EGP 2,502.75.

21-carat gold increased by EGP 5 per gram, closing at EGP 2,190.

18-carat gold saw a slight increase of EGP 4.25 per gram, closing at EGP 1,877.25.

The price of the gold pound rose by EGP 40, closing at EGP 17,520.

*Prices reflect updates recorded as of midday.

 

Currencies

The official exchange rate for the dollar remained stable, with a purchase rate of EGP 30.83 and a sale rate of EGP 30.96.

The euro increased slightly, with a purchasing rate of EGP 33.98 and a selling rate of EGP 34.12.

The Saudi riyal was priced at EGP 8.22 for buying and EGP 8.25 for selling.

 

*Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Exchange, and iSagha.

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