Market watch: Egypt’s bourse main index loses 885 points on Tuesday; Gold prices edge higher

Ahram Online , Tuesday 31 Oct 2023

The Egyptian Exchange (EGX) indices tumbled on Tuesday with the main index losing 885 points and the market cap losing over EGP 60 billion, while gold prices increased marginally.

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 EGX30 index dropped 3.78 percent, or 885 points, settling at 22,550.65 points, while the EGX70 index tumbled by 2.15 percent, ending at 4,325.85 points.

The EGX100 index plunged by 2.81 percent to close at 6,476.59 points.

The market capitalization lost nearly EGP 60.66 billion, ending at EGP 1,536 billion.

Sinai Cement was the biggest winner in the market, with stock surging 19.90 percent to close at EGP 7.47 per share.

The greatest loser in the market was Delta for Printing & Packaging. The stock fell 14.26 percent to end at EGP 39.49 per share.

Gold purchase prices

On Tuesday, the purchase price of 24-carat gold reached EGP 2,966 per gram, EGP 23 higher compared to Monday.

The 21-carat gold price rose by EGP 20 to EGP 2,595 per gram.

The 18-carat gold price edged EGP 17 higher to EGP 2,224 per gram.

The price of the gold pound coin increased by EGP 160, recording EGP 20,760 for purchase.

*Prices reflect updates recorded as of midday.


With a buy rate of EGP 30.8277 and a sell rate of EGP 30.9586, the official EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.8439 for purchase and EGP 32.9956 for sale.

The Saudi riyal is priced at EGP 8.2168 to buy and EGP 8.2521 to sell.

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

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