Market watch: Egyptian stocks edge higher on Tuesday; Gold stabilizes

Ahram Online , Tuesday 18 Jul 2023

The Egyptian Exchange (EGX) index closed slightly higher on Tuesday while gold prices remained at yesterday's 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


The leading index EGX30 increased by 0.55 percent to 17,608.32 points.

The EGX70 index rose 0.07 percent to close at 3444.88 points. 

EGX100 rose 0.36 percent to close at 5,130.5 points. 

Market capitalization increased by EGP6 billion on Tuesday to a total of EGP1,183 billion. 

Egypt Media Production City rose 5.73 percent to close at 10.5 EGP per share, the biggest gain in EGX. 

Egyptians for Investment and Urban Development was the market's biggest loser on Tuesday, falling 5.47 percent to close at 7.4 Egyptian pounds per share. 

Gold prices


The price of 24-carat gold is 2,462.75 Egyptian pounds per gram. 

21-carat gold levelled off at 2,155 Egyptian pounds per gram. 

18-carat gold was stable at 1,847.25 Egyptian pounds per gram. 

The gold pound price remained at 17,240 Egyptian pounds. 

*Prices reflect updates recorded as of midday.



The official dollar exchange rate was stable, with a buy rate of 30.83 Egyptian pounds and a sell rate of 30.96 Egyptian pounds. 

The euro was bought at 33.62 EGP and sold at 34.77 EGP. 

The Saudi Riyal was priced at 8.22 Egyptian pounds to buy and 8.25 Egyptian pounds to sell. 

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


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