Market watch: Egyptian bourse key index breaks historic record for second time in row

Ahram Online , Muhammed Khalid , Monday 28 Aug 2023

The Egyptian Exchange is continuing its outstanding performance for the second day in the week, breaking its record level on Sunday. Gold declined for the second day in a row.

EGX trading hall. Ahram Gate.
EGX trading hall. Ahram Gate.


Stock market

The benchmark EGX30 index rose by 0.37 percent to close at 18,584.84 points, breaking the record level achieved yesterday.

"The EGX's outstanding performance can be ascribed to positive financial statements of leading stocks in the petrochemicals, food, and banking sectors, in addition to accepting Egypt's application to join the BRICS, which boosted the positive sentiment in the market," market analyst, Mahmoud Atta, told Ahram Online.

The closing value of the EGX70 index was 3,754.48 points, up 0.36 percent.

The EGX100 grew by 0.22 percent to end at 5,517.56 points.

The market capitalization increased by EGP 4 billion, reaching more than EGP 1,260. billion.

Export Development Bank of Egypt (EDBE) was the greatest gainer, surging 20 percent to settle at EGP 14.64 per share.

Sinai Cement was the biggest loser, tumbling 13.12 percent to end at EGP 5.23 per share.

Gold prices

The cost of a gram of 24-karat gold inched down by EGP 29 to EGP 2,525.75.

The price of a gram of 21-karat gold declined by EGP 25 to EGP 2,210.

The 18-karat gold price decreased by EGP 19 to reach EGP 1,894.25 per gram.

The gold pound lost EGP 200 of its price to end at EGP 17,680.

*Prices reflect updates recorded as of midday.


The official exchange rate between Egyptian pounds and dollars was steady, with a purchase rate of EGP 30.83 and a sell rate of EGP 30.96.

The exchange rate for the euro was EGP 33.32 for purchase to EGP 33.47 for sale.

The exchange rate for the Saudi riyal was EGP 8.22 to buy and EGP 8.25 to sell.

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

Short link: