Market watch: Egyptian Exchange completes recovery from war impact; EGX30 nears historic level

Ahram Online , Sunday 15 Oct 2023

The Egyptian Exchange (EGX) indices led the week with a positive performance. The main index EGX30 exceeded 20,300 points on Sunday, approaching its historic levels achieved before the eruption of the Hamas-Israel conflict that affected the market starting from the 8th of October.

Egypt bourse.
Egypt bourse. AFP

 

Stock market
 

The benchmark EGX30 index increased by 1.61 percent to settle at 20,324.96 points.

The EGX70 index rose by 1.22 percent to end at 3,751.74 points.

The EGX100 joined the positive trend, growing by 1.68 percent to close at 5,645.02 points.

The market capitalization gained nearly EGP 32 billion, recording more than EGP 1,384 billion.

The biggest gainer was Misr Fertilizers Production Company (Mopco), which surged 16.67 percent to close at EGP 440.12 per share.

The greatest loser was Madinet Masr For Housing and Development, which fell 3.3 percent to end at EGP 2.93 per share.

Gold purchase prices
 

The purchase price of 24-carat gold increased by nearly EGP 12 from Thursday to reach EGP 2,674.25 per gram on Sunday.

The 21-carat gold price rose by EGP 10 to hit EGP 2,340 per gram.

The 18-carat gold price went up by EGP 8 to EGP 2,005.75 per gram.

The price of a pound of gold reached EGP 18,680 on Sunday, EGP 40 higher than Thursday.

*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 the EGP and USD remains stable.

The euro is valued at EGP 32.40 for purchases and EGP 32.54 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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