Market watch: EGX loses EGP 21 bln on Thursday; 21k gold hits historic high at EGP 3,000

Ahram Online , Thursday 21 Dec 2023

The Egyptian Exchange (EGX) indices ended in the red on Thursday and the market cap lost EGP 21 billion.

Illustrative image of gold bars and stock exchange charts. DALL E 2 by OpenAI.
Illustrative image of gold bars and stock exchange charts. DALL E 2 by OpenAI.


On the other hand, gold prices soared and the 21-carat gold reached a per-gram price of EGP 3,000 for the first time.

Stock market

The EGX30 index declined by 2.14 percent, settling at 24,305 points.

The EGX70 shrank 0.38 percent to end at 5,389 points; the EGX100 index decreased by 0.91 percent to close at 7,764 points.

The market capitalization lost EGP 21 billion, ending at around EGP 1,666 billion.

The biggest winner in the market on Thursday was Asek Company for Mining (Ascom). The stock soared by 17.12 percent to close at EGP 51.32 per share.

However, the worst performer on the exchange today was Credit Agricole Egypt. The stock fell 5.66 percent to EGP 20 per share.

Gold purchase prices

The purchase price of 24-carat gold increased by EGP 35 to EGP 3,429 per gram on Thursday, compared to Wednesday’s prices.

The 21-carat gold price rose by EGP 30 to reach EGP 3,000 per gram, and the 18-carat gold price went up by EGP 25 to EGP 2,571 per gram.

The price of the gold pound jumped EGP 640 to hit EGP 24,000 for purchase.

*Prices reflect updates recorded as of midday.


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 33.8458 for purchase and EGP 34.0018 for sale.

The Saudi riyal is priced at EGP 8.2174 for buying and EGP 8.2534 for selling.

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

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