Market watch: Egypt's bourse main index breaks 18k point threshold on Tuesday

Ahram Online , Tuesday 22 Aug 2023

Tuesday saw increases in the gold and stock markets in Egypt. The benchmark index on the Egyptian Exchange surpassed 18,200 points, setting a new record. The cost of one gram of 24-karat gold increased by EGP 40.

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


Stock market

The benchmark EGX30 index increased by 1.5 percent to close at 18,216.63 points.

The closing value of the EGX70 index was 3,716.51 points, up 1.14 percent.

To close at 5,464.06 points, the EGX100 increased by 1.2 percent.

On Tuesday, the market capitalisation increased by EGP 18 billion, reaching EGP 1,238 billion.

ODIN Investments was the greatest gainer, rising 16.4 percent to settle at EGP 1.7 per share.

The General Company For Land Reclamation, Development & Reconstruction was the biggest loser. On Tuesday, the stock decreased 8.5 percent to settle at EGP 26.44 per share.

Gold prices

The cost of a gram of 24-karat gold increased by EGP 40 to EGP 2,570.5.

The price of a gram of 21-karat gold increased by EGP 35 to EGP 2,250.

A 30 EGP increase brought the price of 18-karat gold to EGP 1,928.5 per gram.

A pound of gold cost EGP 18,000 on Tuesday, an increase of EGP 80 from Monday.

*Prices reflect updates recorded as of midday.


The official exchange rate between Egyptian pounds and dollars was steady, with a purchase rate of 30.83 and a sell rate of 30.96.

The exchange rate for the euro was 33.55 EGP for purchase to 33.71 EGP for sale.

The exchange rate for the Saudi riyal was 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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