Market watch: Egypt's bourse hits new summit on Thursday; Gold prices decline

Ahram Online , Thursday 26 Oct 2023

The Egyptian Exchange (EGX) reached a new summit on Thursday, with the benchmark index surpassing the 23,200-point level, while gold prices dived as the gold pound coin lost EGP 640 of its value.

Egyptian Exchange trading hall.
Egyptian Exchange trading hall. Al-Ahram Gate.

 

Stock market
 

EGX30 index increased 0.56 percent, settling at a new all-time high of 23,262.27 points, while the EGX70 index rose 0.51 percent, ending at 4,339.3 points.

The EGX100 index edged higher 0.36 percent to close at 6,578.5 points.

The market capitalization lost nearly EGP 1 billion, ending at EGP 1,589 billion.

General Company For Land Reclamation, Development & Reconstruction was the biggest winner in the market. The stock surged 20 percent to close at EGP 73.09 per share.

The greatest loser in the market today was Arab Co. for Asset Management And Development after the stock fell 6.63 percent to end at EGP 0.93 per share.

Gold purchase prices
 

On Thursday, the purchase price of 24-carat gold reached EGP 2,971 per gram, EGP 89 lower compared to Wednesday.

The 21-carat gold price decreased by EGP 80 to EGP 2,520 per gram.

The 18-carat gold price declined by EGP 69 to EGP 2,160 per gram.

The price of the gold pound coin dropped EGP 640, recording EGP 20,160 for purchase.

*Prices reflect updates recorded as of midday.

Currencies
 

With a buy rate of EGP 30.83 and a sell rate of EGP 30.96, the official EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.48 for purchase and EGP 32.63 for sale.

The Saudi riyal is 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 Egypt Gold Price Today.

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