Market watch: Egyptian stock stable despite EGX50 suspension, gold inches up on Tuesday

Ahram Online , Tuesday 1 Aug 2023

The Egyptian Exchange indices haven't seen considerable change on Tuesday, the first day of the discontinuation of the EGX50 while gold made small gains.

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

 

Stock market

The leading index EGX30 declined by 0.46 percent to end at 17,514 points.

The EGX70 index inched higher 0.16 percent to close at 3,536.7 points. 

EGX100 slipped by 0.02 percent to close at 5,216.7 points.

Market capitalization declined by nearly EGP 3 billion on Tuesday to over EGP 1,187 billion.

Top gainer was Belton Financial Holding, which surged about 10 percent to close at EGP 3.43 per share.

Top loser was Eastern Company after falling 6 percent to close at nearly EGP 17.5 per share.

 

Gold prices

The price of 24-carat gold inched higher by EGP 6 to EGP 2,451.5 per gram.

21-carat gold rose by EGP 5 to EGP 2,145 per gram.

18-carat gold is priced at EGP 1,838.5 per gram, EGP 4 higher than Monday's price.

The gold pound price increased from EGP 40 to EGP 17,160.

*Prices reflect updates recorded as of midday.

 

Currencies

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 34.85 and sold at EGP 34.

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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