Market watch: Egypt’s bourse recovers from regional tension loss on Tuesday; Gold rebounds

Ahram Online , Tuesday 10 Oct 2023

The Egyptian Exchange (EGX) indices continue to recover from the blow at the beginning of the week as geopolitical tensions mount. Gold prices surged for the second day in a row and the gold coin reached EGP 18,000 for the first time in weeks.

AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.
AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.

Stock market

The benchmark EGX30 index rose by 1.62 percent to settle at 19,724.32 points.

The EGX70 index closed at 3,668.55 points, up 1.58 percent.

Finishing at 5,464.15 points, the EGX100 increased by 1.76 percent.

The market capitalization gained EGP 24 billion, recording EGP 1,323 billion.

The biggest gainer was Samad Misr (EGYFERT), which surged 20 percent to close at EGP 49.93 per share.

The greatest loser was Mohandes Insurance, which fell 12.34 percent to end at EGP 13.07 per share.

Gold purchase prices

The purchase price of 24-carat gold jumped by EGP 69 to reach EGP 2,600 per gram.

The 21-carat gold price increased by EGP 60 to hit EGP 2,275 per gram.

The 18-carat gold price rose by EGP 52 to EGP 1,950 per gram.

The price of a pound of gold reached EGP 18,000 on Monday, EGP 320 higher than Monday.

*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 32.64 for purchases and EGP 32.79 for sales.

The Saudi riyal is 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 Agriprice.

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