Market watch: Egyptian bourse's main index reaches highest level ever on Sunday

Ahram Online , Sunday 27 Aug 2023

The Egyptian Exchange started the week with a record high as the new chairman started his term. The benchmark index EGX30 reached its all-time high at 18,516.59 points. On the other hand, gold prices declined.

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


Stock market

The benchmark EGX30 index rose by 1.7 percent to close at 18,516.59 points, its highest level ever.

The closing value of the EGX70 index was 3,741.03 points, up 1.05 percent.

The EGX100 grew by 1.13 percent to end at 5,505.36 points.

On Thursday, the market capitalization increased by EGP 17 billion, reaching more than EGP 1,256. billion.

Egypt for Poultry was the greatest gainer, surging 19.71 percent to settle at EGP 3.34 per share.

Obour Land For Food Industries was the biggest loser, tumbling 3.21 percent to end at EGP 8.14 per share.

On Thursday, Prime Minister Mostafa Madbouly appointed Ahmed El-Sheikh as the new chairman of the Egyptian Exchange for a one-year term, effective 26 August according to a cabinet statement on Thursday.

Gold prices

The cost of a gram of 24-karat gold inched down by EGP 40 to EGP 2,554.25.

The price of a gram of 21-karat gold declined by EGP 35 to EGP 2,235.

The 18-karat gold price decreased by EGP 30 to reach EGP 1,915.75 per gram.

The gold pound was priced at EGP 17,880 on Sunday, EGP 180 lower than Thursday.

*Prices reflect updates recorded as of midday.


The official exchange rate between Egyptian pounds and dollars was steady, with a purchase rate of EGP 30.83 and a sell rate of EGP 30.96.

The exchange rate for the euro was EGP 33.299 for purchase to EGP 33.447 for sale.

The exchange rate for the Saudi riyal was 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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