Market watch: Egypt’s stock market makes history on Wednesday; Gold prices soar

Ahram Online , Wednesday 25 Oct 2023

After a brief trip, the Egyptian Exchange (EGX) indices return on Wednesday to break their historic records, with over 3 percent jumps for each. Similarly, the gold market was very active, as the gold coin price surged by EGP 920.

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

 

Stock market
 

EGX30 index jumped 3.37 percent, settling at a new all-time high of 23,131.96 points, whereas the EGX70 index surged 3.36 percent, ending at 4,317.4 points.

The EGX100 index soared 3.64 percent to close at 6,555.21 points.

The market capitalization lost more than EGP 40 billion, ending at nearly EGP 1,590 billion.

T M G Holding was the biggest winner in the market. The stock surged 20 percent to close at EGP 23.10 per share.

The greatest loser in the market today was Misr Fertilizers Production Company (MOPCO) after the stock fell 6.18 percent to end at EGP 638 per share.

Gold purchase prices
 

On Wednesday, the purchase price of 24-carat gold reached EGP 2,971 per gram, EGP 131 higher than on Tuesday.

The 21-carat gold price increased by EGP 115 to EGP 2,600 per gram.

The 18-carat gold price rose by EGP 99 to EGP 2,229 per gram.

The price of the gold pound coin jumped EGP 920, recording EGP 20,800 for purchase.

*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 EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.59 for purchase and EGP 32.74 for sale.

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 Egypt Gold Price Today.

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