Market watch: EGX’s indices rebound on Wednesday

Ahram Online , Wednesday 13 Dec 2023

The Egyptian Exchange (EGX) rebounded on Wednesday after three sessions of decline and fluctuations, and the market cap gained EGP 57 billion.

Stock image depicting stock market indices.
Stock image depicting stock market indices.

 

Furthermore, gold prices rose by EGP 25 per gram for all carats, while the value of the gold coin pound rose by EGP 200.

Stock market
 

The EGX30 index jumped 2.92 percent, settling at 24,774 points, while EGX70 surged 3.07 percent to 5,280 points.

The EGX100 index soared 3.12 percent to close at 7,671 points.

The market capitalization gained EGP 57 billion, ending at around EGP 1,668 billion.

Misr Fertilizers Production Company's (Mopco) stock soared by 20 percent to close at EGP 517.2 per share, making it the biggest winner on the stock exchange for the second session in a row.

Meanwhile, as the worst performer on the exchange, Cairo Oils & Soap's stock fell 5.45 percent to reach EGP 0.26 per share.

Gold purchase prices
 

The purchase price of 24-carat gold increased by EGP 28 on Wednesday, recording EGP 3,217 per gram.

The 21-carat gold price rose by EGP 25 for purchase to reach EGP 2,815 per gram.

The 18-carat gold price went up EGP 22 to register EGP 2,413 per gram.

The price of the gold pound inched by EGP 200 to hit EGP 22,520 for purchase.

*Prices reflect updates recorded as of midday.

Currencies
 

The official EGP/USD exchange rate remains stable at EGP 30.8277 for buying and EGP 30.9586 for selling.

The euro is valued at EGP 33.2385 for purchase and EGP 33.3919 for sale.

The Saudi riyal is priced at EGP 8.2183 for buying and EGP 8.2536 for selling.

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

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