Market watch: Egyptian stock exchange hits new highs for third day straight

Ahram Online , Tuesday 29 Aug 2023

The Egyptian Exchange (EGX) kept its positive track for the third consecutive day, and the main index, EGX, reached a new high at over 18,620 points on Tuesday. Gold, on the other hand, maintained its downward trajectory.

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

 

Stock market


To break the record set yesterday, the benchmark EGX30 index increased by 0.24 percent to settle at 18,629.34 points.

The EGX70 index closed at 3,795.23 points, an increase of 1.09 percent.

Finishing at 5,569.38 points, the EGX100 increased by 0.94 percent.

More than EGP 1,267 billion was added to the market capitalization, a gain of EGP 7 billion.

The biggest gainer was Copper For Commercial Investment and Real Estate Development, which rose 20 percent to close at EGP 0.732 per share.

The greatest loser was Obour Land For Food Industries, which fell 4.22 percent to close at EGP 7.94 per share.

Gold prices
 

A gram of 24-karat gold now costs EGP 2,497.25, a slight decrease of EGP 28.

A gram of 21-karat gold cost EGP 2,185 less now, a decrease of 25 EGP.

The price of 18 carat gold dropped by EGP 19 to EGP 1,872.75 per gramme.

The gold pound decreased by EGP 200 to close the day at EGP 17,480.

*Prices reflect updates recorded as of midday.

Currencies
 

With a buy rate of EGP 30.83 and a sell rate of EGP 30.96, the official rate between Egyptian pounds and dollars remained stable.

The euro was valued at 33.31 EGP for purchases and 33.46 EGP for sales.

Saudi riyals were priced at 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.

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