Market watch: Egyptian bourse reaches new high on Wednesday; gold rebounds

Ahram Online , Wednesday 16 Aug 2023

The Egyptian Exchange's main index reached a record level on Wednesday. Gold prices rebounded, shrugging off some of the loses on the last two days.

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


Stock market


The leading index EGX30 grew by 0.54 percent to end at 18,062.5 points, the highest level in three years.

The EGX70 index, on the other hand, inched down by 0.38 percent to close at 3,625.25 points.

EGX100 slipped by 0.06 percent to close at 5,364.33 points.

Market capitalization gained EGP 5 billion on Wednesday to reach EGP 1,224 billion.

The top gainer was Juhayna Food Industries for the second day in a row after surging 20 percent to close at EGP 17.04 per share.

The top loser was Belton Financial Holding, after falling 6.32 percent to close at EGP 3.41 per share on Wednesday.

Gold prices


The price of 24-carat gold rose by EGP 40 to reach EGP 2,525.75 per gram.

21-carat gold increased by EGP 35 to hit EGP 2,210 per gram.

18-carat gold price grew by EGP 30 to EGP 1,894.25 per gram.

The price of a pound of gold reached EGP 17,680 on Wednesday, EGP 180 higher than Tuesday.

*Prices reflect updates recorded as of midday.



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 was bought at EGP 33.65 and sold at EGP 33.80.

The Saudi riyal was 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 iSagha.

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