Market watch: EGX closes red for second consecutive day; gold prices inch lower

Ahram Online , Wednesday 1 Nov 2023

The Egyptian Exchange (EGX) indices ended in the red territory on Wednesday for the second day in a row albeit declining on a much slower pace than yesterday. Gold prices also edged lower.

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


Stock market

The EGX30 index declined 0.52 percent, settling at 22,433.38 points, while the EGX70 index edged lower by 0.47 percent, ending at 4,305.41 points.

The EGX100 index plunged by 0.49 percent to close at 6,444.99 points.

The market capitalization lost nearly EGP 15 billion, ending at EGP 1,521 billion.

Delta For Printing & Packaging was the biggest winner in the market, with stock surging 18.56 percent to close at EGP 46.82 per share.

The greatest loser in the market was El Arabia for Land Reclamation. The stock fell 13.33 percent to end at EGP 25.75 per share.

Gold purchase prices

On Wednesday, the purchase price of 24-carat gold reached EGP 2,937 per gram, EGP 29 lower compared to Tuesday.

The 21-carat gold price declined by EGP 25 to EGP 2,570 per gram.

The 18-carat gold price edged EGP 21 lower to EGP 2,203 per gram.

The price of the gold pound coin decreased by EGP 200, recording EGP 20,560 for purchase.

*Prices reflect updates recorded as of midday.


With a buy rate of EGP 30.8306 and a sell rate of EGP 30.9586, the official EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.4985 for purchase and EGP 32.6458 for sale.

The Saudi riyal is priced at EGP 8.2180 to buy and EGP 8.2525 to sell.

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

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