Market watch: Egyptian Exchange shrugs off two-session loss on Wednesday

Ahram Online , Wednesday 4 Oct 2023

The Egyptian Exchange (EGX) rebounded on Wednesday after two sessions of declines. The benchmark index inched closer to return to its peak levels. Gold remains within its limits with no considerable change.

Gold coins and USD notes. AI-generated image.
Gold coins and USD notes. AI-generated image. DALL-E by OpenAI.


Stock market

The benchmark index EGX30 rose 0.84 percent, reaching 19,873.31 points.

The EGX70 index increased by 0.62 percent as well to end at 3,735.56 points. The EGX100 grew 0.82 percent, closing at 5,546.54 points.

The market capitalization gained EGP 14 billion, reaching nearly EGP 1.353 billion.

The biggest gainer for the day was Delta For Printing & Packaging whose stock jumped 14.46 percent to end at EGP 27.46 per share.

The bourse's biggest loser for the day was Sharm Dreams Co. for Tourism Investment. The stock fell 2.98 percent to close at EGP 11.41 per share.

Gold prices

A gram of 24-karat gold stood at EGP 2,454 for purchase on Wednesday, EGP 2 higher than on Tuesday.

A gram of 21-karat gold was valued at EGP 2,148 with an EGP 2 increase from the day before.

The price of 18-carat gold increased by EGP 3 to reach EGP 1,841 per gram.

The gold pound settled at EGP 17,264, an EGP 64 rise from Tuesday.

*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 is valued at EGP 32.38 for purchasing and EGP 32.52 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.

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