Market watch: EGX Indices kick off 2024 with active session

Ahram Online , Tuesday 2 Jan 2024

The Egyptian Exchange (EGX) indices jumped by an average of 2.81 percent during Tuesday, the first session in 2024, and the market cap gained EGP 34 billion.

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


Gold prices also increased and the 24-carat maintained its historic high above EGP 3,600 per gram.

Stock market

The EGX30 index rose by 2.44 percent, settling at 25,502 points.

Similarly, the EGX70 index saw a 3.06 percent jump, ending at 5,640 points. The EGX100 index surged by 2.93 percent, closing at 8,111 points.

Market cap increased by EGP 34 billion to end at EGP 1,753 billion.

Among the noteworthy performers during Tuesday's session, Iron and Steel for Mines and Quarries emerged as the biggest winner, with its stock soaring by 19.97 percent, closing at EGP 1.86 per share.

Conversely, the Export Development Bank of Egypt experienced a decline of 3.38 percent, with its stock falling to EGP 24 per share, making it the worst performer on the exchange for the day.

Gold purchase prices

The purchase price of 24-carat gold increased by EGP 52 to EGP 3,669 per gram on Tuesday, compared to Sunday’s prices.

The 21-carat gold price rose by EGP 45 to reach EGP 3,210 per gram, and the 18-carat gold price went up by EGP 39 to EGP 2,751 per gram.

The price of the gold pound jumped EGP 360 to hit EGP 25,320 for purchase.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remains stable at EGP 30.8249 for buying and EGP 30.9557 for selling.

The euro is valued at EGP 33.8087 for purchase and EGP 33.9553 for sale.

The Saudi riyal is priced at EGP 8.2193 for buying and EGP 8.2546 for selling.

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

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