Market watch: Egyptian bourse's benchmark hits historic level; gold continues decline

Ahram Online , Sunday 18 Jun 2023

The Egyptian Exchange's indices saw very active trading on Sunday, with the benchmark reaching a historic level above 18,000 points. Gold prices decline.

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


Gold prices

The price of 24-carat gold declined by EGP 23 to EGP 2,548.5 per gram.

The 21-carat gold price decreased by EGP 40 to reach EGP 2,230 per gram.

The per-gram price of 18-carat gold lost EGP 17 to stand at EGP 1,911.5 per gram.

The gold pound also lost EGP 160 of its value, reaching  EGP 17,840.

*Prices reflect updates recorded by midday.

Stock market

EGX30 rose by 0.81 percent to end at 18026.17 points, its highest level in over three years.

EGX70 jumped 2.74 percent to 3561.89 points.

EGX100 surged by 2.28 percent to close at 5280.69 points.

The market cap gained around EGP 12 billion to end at around EGP 1.175 trillion.

The top gainer was Orascom Financial Holding (OFH), which surged by 19.83 percent to a value of EGP 0.29.

OFH announced today that it received an acquisition offer for up to 90 percent of its shares from investment management firm B Investments.

The top loser was Medical Packaging Company after shrinking by 12.73 percent, closing at EGP 0.706.


The official market's buying price for the dollar is EGP 30.83, and the selling price is around EGP 30.96, with no considerable fluctuations.

The euro rose slightly on Sunday to nearly EGP 33.71 for buying and around EGP 33.86 for selling.

The Saudi riyal's buying price stands at EGP 8.22, and the selling price at EGP 8.25.

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

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