Market watch: Egypt's bourse sees negative performance on Tuesday; Gold edges higher

Ahram Online , Tuesday 8 Aug 2023

The Egyptian Exchange (EGX) indices ended in the red territory on Tuesday, with marginal declines. Gold inched higher.

AI generated photo showing gold coins, stock charts, and a dollar bill. Photo: DALL E 2 by Open AI.
AI generated photo showing gold coins, stock charts, and a dollar bill. Photo: DALL E 2 by Open AI.

 

Stock market
 

The leading index EGX30 edged lower by 0.51 percent to end at 17,748.89 points.

The EGX70 index slipped 0.16 percent to close at 3,589.62 points.

EGX100 declined by 0.27 percent to close at 5,306.79 points.

Market capitalization lost EGP 6 billion on Tuesday to reach EGP 1,204 billion.

The top gainer was El Obour Real Estate Investment, which surged 11.11 percent to close at EGP 8.9 per share.

The top loser was Atlas For Investment and Food Industries after falling 5.56 percent to close at nearly EGP 0.34  per share.

 

Gold prices
 

The price of 24-carat gold inched higher by EGP 6 to EGP 2,457.25 per gram.

21-carat gold increased by EGP 5 to EGP 2,150 per gram.

18-carat gold is priced at EGP 1,842.75 per gram, EGP 4 higher than Monday's price.

The gold pound price rose by EGP 40 to EGP 17,200.

*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 33.76 and sold at EGP 33.91.

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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