Market watch: Egyptian stock market surges on Tuesday; gold prices see slight increase

Ahram Online , Tuesday 7 Nov 2023

The Egyptian Exchange (EGX) indices surged at the end of Tuesday’s session, and the main index approached its historic high. Gold prices inched higher.

Egyptian Exchange trading hall.
Egyptian Exchange trading hall.

 

Stock market
 

The EGX30 index rose 1.45 percent, settling at 23,393.41 points.

The EGX70 index edged higher by 1.62 percent, ending at 4,619.64 points.

The EGX100 index increased by 1.41 percent to close at 6,850.49 points.

The market capitalization gained EGP 24 billion, ending at around EGP 1,581 billion.

Medical Packaging Company was the biggest winner in the market. The stock surged 19.91 percent to close at EGP 1.012 per share.

The greatest loser in the market was Sinai Cement. The stock fell 7.35 percent to end at EGP 8.70 per share.

Gold purchase prices
 

The purchase price of 24-carat gold reached EGP 2,966 per gram, EGP 6 higher compared to Monday.

The 21-carat gold price increased by EGP 5 to EGP 2,595 per gram.

The 18-carat gold price edged EGP 4 higher to EGP 2,224 per gram.

The price of the gold pound coin rose by EGP 40, recording EGP 20,760 for purchase.

*Prices reflect updates recorded as of midday.

Currencies
 

With a buy rate of EGP 30.8306 and a sell rate of EGP 30.9586, the official EGP/USD exchange rate remains stable.

The euro is valued at EGP 32.9055 for purchase and EGP 33.0545 for sale.

The Saudi riyal is priced at EGP 8.2182 to buy and EGP 8.2528 to sell.

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

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