Market watch: EGX closes in red on Tuesday; gold prices rise

Ahram Online , Tuesday 19 Dec 2023

The Egyptian Exchange ended in the red territory on Tuesday after two green sessions in a row. On the other hand, gold prices jumped.

EGX trading screen.
EGX trading screen.


Stock market

The EGX30 index declined by 1.02 percent, settling at 25,076 points.

The EGX70 shrank 1.12 percent to end at 5,426 points; the EGX100 index decreased by 1.14 percent to close at 7,872 points.

The market capitalization lost EGP 14 billion, ending at around EGP 1,697 billion.

Biggest winner is El Kahera El Watania Investment’s stock soared by 19.28 percent to close at EGP 14.6 per share.

However, the worst performer on the exchange on Tuesday was Giza General Contracting. The stock fell 10.21 percent to EGP 0.378 per share.

Gold purchase prices

The purchase price of 24-carat gold increased by EGP 46 to EGP 3,337 per gram on Tuesday, compared to Monday’s prices.

The 21-carat gold price rose by EGP 40 to reach EGP 2,920 per gram, and the 18-carat gold price went up by EGP 34 to EGP 2,503 per gram.

The price of the gold pound jumped EGP 320 to hit EGP 23,360 for purchase.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remains stable at EGP 30.8249 for buying and EGP 30.9557 for selling.

The euro is valued at EGP 33.7101 for purchase and EGP 33.8656 for sale.

The Saudi riyal is priced at EGP 8.2171 for buying and EGP 8.2524 for selling.

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

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