Marketwatch: EGX ends Thursday in green after trading resumed on MOPCO

Ahram Online , Thursday 28 Dec 2023

The Egyptian Exchange (EGX) indices ended in the green on Thursday, as trading resumed on the shares of Misr Fertilizers Production Co. (MOPCO) company after three days of suspension.

EGX trading hall.
EGX trading hall.

Gold prices tumbled today after continuously rising for over a week, and the official exchange rate market is stable.

MOPCO resumes trading on EGX

MOPCO requested a temporary suspension of trading on the EGX on Sunday to conclude the merger with the Egyptian Nitrogen Products Company.

The stock skyrocketed 575 percent today before the bourse cancelled all transactions after it reached EGP 67.5. The stock closed at EGP 69.40.

The EGX30 index increased by 1.4 percent, settling at 24,691 points. The EGX70 index, on the other hand, inched by 0.02 percent, ending at 5,463 points.

The EGX100 index increased 0.33 percent, closing at 7,854 points.

The market capitalization dropped EGP 87 billion, ending at around EGP 1,594 billion.

Themar for Securities was the biggest winner in the market as the stock soared 19.12 percent to close at EGP 7.35 per share.

On the other hand, the worst-performing stock at the end of Thursday's session -- the last in 2023 -- is Golden Textiles & Clothes Wool, which fell by 6.78 percent to EGP 6.88 per share, 

Gold purchase prices

The purchase price of 24-carat gold dropped EGP 194 to reach EGP 3,543 per gram on Thursday, compared to prices on Wednesday.

The 21-carat gold price tumbled EGP 170 to reach EGP 3,100 per gram, and the 18-carat gold price plunged EGP 146 to EGP 2,657 per gram.

The price of the gold pound lost EGP 1,360, ending at EGP 24,800 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 34.2712 for purchase and EGP 34.4290 for sale.

The Saudi riyal is priced at EGP 8.2198 for buying and EGP 8.2556 for selling.

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

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