Market watch: EGX returns to break records at Monday’s close; gold prices inch lower

Ahram Online , Monday 30 Oct 2023

After leading the week with mixed performance, the Egyptian Exchange’s (EGX) indices returned to broke historic levels on Monday, as the benchmark index, EGX30, reached a new summit above 23,400 points.

EGX trading hall.
EGX trading hall. Ahram Gate.

 

On the other hand, gold prices declined and gold pound coin lost EGP 40 of its value.

Stock market
 

EGX30 index increased by 1.51 percent, settling at a new all-time high of 23,435.65 points, while the EGX70 index rose by 0.29 percent, ending at 4,421.1 points.

EGX100 index edged higher by 0.38 percent to close at 6,663.55 points.

The market capitalization gained nearly EGP 23 billion, ending at EGP 1,596.7 billion.

For the second day in a row, Acrow Misr was the biggest winner in the market. The stock surged 20 percent to close at EGP 54.12 per share.

The greatest loser in the market for the second consecutive session was General Company for Land Reclamation, Development & Reconstruction. The stock fell 9.80 percent to end at EGP 52.75 per share.

Gold purchase prices
 

On Monday, the purchase price of 24-carat gold reached EGP 2,943 per gram, EGP 6 lower compared to Sunday.

The 21-carat gold price decreased by EGP 5 to EGP 2,575 per gram.

The 18-carat gold price edged lower EGP 4 to EGP 2,207 per gram.

The price of the gold pound coin declined by EGP 40, recording EGP 20,600 for purchase.

*Prices reflect updates recorded as of midday.

Currencies
 

With a buy rate of EGP 30.8277 and a sell rate of EGP 30.9586, the official EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.625 for purchase and EGP 32.7758 for sale.

The Saudi riyal is priced at EGP 8.2168 to buy and EGP 8.2521 to sell.

*Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Exchange, and Egypt Gold Price Today.

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