Market watch: Egypt’s bourse ends Thursday in mixed note; Gold prices rise

Ahram Online , Thursday 19 Oct 2023

The Egyptian Exchange (EGX) indices ended Thursday with mixed performance and the market cap lost EGP 31 billion after taking unprecedented leaps mid-week. Gold prices are still rising, as the safe haven benefits from the rising geopolitical tensions.

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


Stock market

EGX30 index dropped 2.26 percent to settle at 21,616.6 points and the EGX100 index edged lower 0.01 percent.

On the other hand, the EGX70 index rose by 1.1 percent to end at 3,919.11 points.

The market capitalization lost EGP 31 billion, ending at EGP 1,473 billion.

Ceramic & Porcelain was the biggest winner in the market, surging 16.53 percent to close at EGP 11 per share.

The greatest loser was Misr Fertilizers Production Company (Mopco), which fell 10.08 percent to end at EGP 561.08 per share.

Gold purchase prices

On Thursday, the purchase price of 24-carat gold increased by about EGP 70 to reach EGP 2,720 per gram.

The 21-carat gold price rose by EGP 60 to EGP 2,380 per gram.

The 18-carat gold price settled at EGP 2,040 per gram on Thursday, EGP 52 higher than on Wednesday.

The price of a pound of gold increased by EGP 320 to reach EGP 19,040.

*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 32.53 for purchases and EGP 32.68 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 Gold Price Today.

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