Market watch: Egyptian Exchange's key index reaches historic high on Thursday

Thursday 31 Aug 2023

The Egyptian Exchange (EGX) continued an uninterrupted series of breaking records on Thursday. The main index EGX30 reached an all-time high above 18,870 points. Gold remained unchanged after a week marked by minor declines.

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

 

Stock market
 

The benchmark EGX30 index increased by 0.3 percent to settle at 18,873.82 points.

The EGX70 index closed at 3,829.51 points, an increase of 0.44 percent.

Finishing at 5,597.8 points, the EGX100 increased by 0.22 percent.

More than EGP 1,276 billion was added to the market capitalization, a gain of EGP 3 billion.

The biggest gainer was TAQA Arabia, which rose 16.63 percent to close at EGP 11.36 per share. On Thursday, an investor bought 11.4 percent of the company's total shares in one transaction with a value of EGP 1.2 billion.

The greatest loser was Arab Aluminum, which fell 5.11 percent to close at EGP 10.22 per share.

Gold prices


A gram of 24-karat gold costs EGP 2,502.75, with no change from yesterday.

A gram of 21-karat gold remained at a price of EGP 2,190.

The price of 18-carat gold was maintained at EGP 1,877.25 per gramme.

The gold pound was valued at EGP 17,520.

*Prices reflect updates recorded as of midday.

Currencies


With a buy rate of EGP 30.83 and a sell rate of EGP 30.96, the official rate between Egyptian pounds and dollars remained stable.

The euro was valued at 33.50 EGP for purchases and 33.66 EGP for sales.

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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