Market watch: Egypt's bourse ends in red for second session in row

Ahram Online , Tuesday 12 Sep 2023

The Egyptian Exchange (EGX) continued on its declining trajectory for the second consecutive session on Tuesday due to a correction wave expected last week. Gold inched higher but remained within its range in August.

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


Stock market

The benchmark index EGX30 inched down by 0.7 percent, reaching 19,144.09 points.

The EGX70 index went down by 0.49 percent to end at 3,778.39 points. The EGX100 declined 0.47 percent, closing at 5,558.09 points.

The market capitalization lost EGP 6 billion, reaching above EGP 1,292 billion.

The biggest gainer for the day was Rubex International for Plastic and Acrylic Manufacturing whose stock jumped 14.29 percent to close at EGP 5.2 per share.

The bourse's biggest loser for the day was Macro Capital whose stock fell 6.11 percent to close at EGP 2.46 per share.

Gold prices

A gram of 24-karat gold stood at EGP 2,499.5 for purchase on Tuesday, EGP 2.25 higher than on Monday.

A gram of 21-karat gold was valued at EGP 2,187, EGP 2 higher than a day before.

The price of 18-carat gold increased by EGP 1.75 to reach EGP 1,874.5 per gram.

The gold pound settled at EGP 17,496, an EGP 16 rise from Monday.

*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 33.03 for purchases and EGP 33.18 for selling.

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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