Market watch: Egyptian bourse closes Wednesday with mixed performance: Gold prices still rising

Ahram Online , Wednesday 11 Oct 2023

The Egyptian Exchange (EGX) is still processing the negative impacts of the Hamas-Israel conflict. The market ended Wednesday with mixed performance. Gold prices continue their rising trajectory.

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


Stock market

The benchmark EGX30 index edged lower by 0.36 percent to settle at 19,653.49 points.

On the other hand, the EGX70 index rose by 0.55 percent to end at 3,688.66 points.

Finishing at 5,491.41 points, the EGX100 increased by 0.5 percent.

The market capitalization gained nearly EGP 3 billion, recording around EGP 1,326 billion.

The biggest gainer was Ceramic & Porcelain, which surged 12.71 percent to close at EGP 7.45 per share.

The greatest loser was Memphis Pharmaceuticals, which fell 5.41 percent to end at EGP 61.21 per share.

Gold purchase prices

The purchase price of 24-carat gold increased by EGP 17.25 to reach EGP 2,617.52 per gram.

The 21-carat gold price rose by EGP 15 to hit EGP 2,290 per gram.

The 18-carat gold price went up by EGP 12.25 to EGP 1,962 per gram.

The price of a pound of gold reached EGP 18,320 on Wednesday, EGP 320 higher than 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 32.68 for purchases and EGP 32.83 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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