Market watch: Egypt's bourse reaches historic levels on Sunday; market cap exceeds EGP 2 tln

Ahram Online , Sunday 28 Jan 2024

The Egyptian Exchange (EGX) indices reached historic levels on Sunday, and the market cap exceeded EGP 2 trillion for the first time.

AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.
AI generated photo showing gold bars and stock charts. Photo: DALL E 2 by Open AI.

Gold prices continue their rising trajectory, and the 21-carat gold hit EGP 3,900 per gram for the first time. 

Stock market

The EGX30 index surged 3.47 percent, settling at 28,626 points.

The EGX70 index increased by 2.14 percent, ending at nearly 6,725 points, and the EGX100 index rose by 2.41 percent, closing at 9,544 points.

Market cap gained around EGP 78 billion to end at EGP 2,049 billion.

Electro Cable Egypt was the best performer in the market on Sunday, jumping 20 percent to end at EGP 3.06.

Today's worst performer was Al Baraka Bank Egypt, which dropped 6.56 percent to close at EGP 14.95.

Gold purchase prices

The purchase price of 24-carat gold surged EGP 114 to reach EGP 4,457 per gram on Sunday, compared to last week's prices.

The 21-carat gold price rose by EGP 100 to hit EGP 3,900 per gram, and the 18-carat gold price grew by EGP 86, recording EGP 3,343 per gram.

The gold pound coin reached EGP 31,200 for purchase, EGP 800 higher than last week.

*Prices reflect updates recorded as of midday.


The official EGP/USD exchange rate remained at EGP 30.8272 for buying and EGP 30.9586 for selling.

The euro is valued at EGP 33.4536 for purchase and EGP 33.6086 for sale.

The Saudi riyal is priced at EGP 8.2201 for buying and EGP 8.2556 for selling.

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

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