Market watch: Egyptian Exchange’s main index hits new record on Tuesday

Ahram Online , Tuesday 19 Sep 2023

The Egyptian Exchange’s (EGX) main index reached a new summit on Tuesday at less than six points shy of its 20,000 target. Gold prices increased, making up for their losses in the past few days.

File Photo: The Egyptian Exchange (EGX). Al-Ahram
File Photo: The Egyptian Exchange (EGX). Al-Ahram


Stock market

The benchmark index EGX30 rose towards a new peak at 19,954.3 points by a 1.03 percent increase.

On the other hand, the EGX70 index declined by 0.38 percent to end at 3,876.09 points. The EGX100 also ended in the red on Tuesday, edging lower 0.1 percent to hit 5,718.18 points.

The market capitalization gained over EGP 19 billion, reaching nearly EGP 1,354 billion.

The biggest gainer for the day was the Misr Fretilizers Production Company (Mopco), jumping 19.16 percent to close at EGP 333 per share.

The bourse's biggest loser for the day was Ismailia Misr Poultry. The stock fell 6.76 percent to close at EGP 10.35 per share.

Gold prices

A gram of 24-karat gold stood at EGP 2,520 for purchase on Tuesday, EGP 40 higher than on Monday.

A gram of 21-karat gold was valued at EGP 2,205, up EGP 35.

The price of 18-carat gold increased by EGP 30 to reach EGP 1,890 per gram.

The gold pound settled at EGP 17,640, recording an EGP 280 jump.

*Prices reflect updates recorded as of midday.


With a buy rate of EGP 30.83 and a sell rate of EGP 30.96, the official rate between the EGP and USD remains stable.

The euro went down to EGP 32.98 for purchasing and EGP 33.12 for selling.

The Saudi riyal is priced at EGP 8.22 for buying and EGP 8.25 for selling.

*Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Exchange, and agriprice.

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