Market watch: Egypt's stocks vary in performance on Wednesday; gold dips marginally

Ahram Online , Wednesday 19 Jul 2023

All of the Egyptian Exchange indices ended in the green on Wednesday except for the benchmark. Gold is still hovering around June's levels.

AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.
AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.

 

Stock market

The leading index EGX30 slipped 0.17 percent to 17,578.67 points.

The EGX70 index gained 1.61 percent, closing at 3,500.5 points. 

EGX100 rose by 1.08 percent to close at 5,185.97 points. 

Market capitalization shrank by EGP 3 billion on Wednesday to nearly EGP 1.181 trillion. 

Orascom Financial Holding surged by 10.4 percent to close at 0.3 EGP per share, the biggest gain in EGX. 

Rakta Paper Manufacturing was the market's biggest loser in the market, falling 3.7 percent to close at EGP 13.3 per share. 

Gold prices

The price of 24-carat gold edged lower by about EGP 4 to reach EGP 2,457.25 per gram. 

21-carat gold lost EGP 5 to record EGP 2,150 per gram.

18-carat gold also fell by EGP 5 to sell at EGP 1842.75 per gram.

The price of a pound of gold declined by EGP 40 to reach EGP 17,240.

* Prices based on updates recorded as of midday.

Currencies

The official dollar exchange rate was stable, with a buy rate of EGP 30.83 and a sell rate of EGP 30.96. 

The euro slipped marginally to EGP 33.58 for purchase and EGP 34.73 for sale.

The Saudi riyal was priced at EGP 8.22 for buying and EGP 8.25 for selling. 

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

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