Market watch: Egyptian stocks incurs 2nd consecutive decline on Tuesday; Gold dips

Ahram Online , Tuesday 25 Jul 2023

The Egyptian Exchange suffered negative performance for the second day in a row on Tuesday, and the market cap lost EGP 5 billion. Gold prices inched lower.

Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.


Stock market

The leading index EGX30 inched lower by 0.4 percent to end at 17,479.94 points.

The EGX70 index shrank 1.25 percent to close at 3,396.75 points. 

EGX100 declined by 1.17 percent to close at 5,051.53 points.

Market capitalization decreased by nearly EGP 5 billion on Monday to a total of EGP 1,172 billion.

Top gainer was Gadwa For Industrial Development surged 10.08 percent to close at EGP 1.3 per share.

Top loser was International Co For Investment & Development after falling 7.53 percent to close at EGP 7.25 per share. 


Gold prices

The price of 24-carat gold decreased by EGP 11.5 to EGP 2,451.5 per gram. 

21-carat gold declined by EGP 10 to EGP 2,145 per gram. 

18-carat gold was down EGP 9.25, standing at EGP 1,838.5 per gram.

The gold pound price decreased by EGP 80 to EGP 17,160.

*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 33.2 and sold at EGP 34.33. 

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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