Market watch: Egypt's bourse keeps breaking records on Thursday; gold prices rise

Ahram Online , Thursday 7 Sep 2023

The Egyptian Exchange (EGX) indices and the gold market ended the week with a positive performance, with the bourse's main index setting a new record at over 19,370 points.

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


Stock market

The benchmark index, EGX30, increased by 0.79 percent, reaching an all-time high of 19,375.7 points.

The EGX70 index rose by 0.43 percent to end at 3,823.63 points. The EGX100 climbed 0.5 percent, closing at 5,613.6 percent.

The market capitalization added EGP 10 billion, reaching more than EGP 1,300 billion.

The biggest gainer for the day was Copper For Commercial Investment and Real Estate Development. The stock jumped 19.95 percent to close at EGP 0.87 per share.

The greatest loser was Development & Engineering Consultants, whose stock fell 3.57 percent to close at EGP 30.25 per share.

Gold prices

A gram of 24-karat gold stood at EGP 2,525.75 for purchase on Thursday, EGP 23 higher than on Wednesday.

A gram of 21-karat gold was valued at EGP 2,210, EGP 20 higher.

The price of 18-carat gold increased by EGP 17 EGP to reach EGP 1,893.25 per gram.

The gold pound settled at EGP 17,680, an EGP 160 jump from the day before.

*Prices reflect updates recorded as of midday.



With a buy rate of EGP 30.83 and a sell rate of EGP 30.96, the official rate between the EGP and USD remains stable.

The euro is valued at EGP 33 for purchases and EGP 33.15 for sales.

The Saudi riyal is 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 agriprice.

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