Market watch: Egyptian Exchange's benchmark hits 2-month high on Tuesday; Gold plunges

Ahram Online , Tuesday 15 Aug 2023

The Egyptian Exchange main index reached its highest level in two months on Tuesday, breaking above the 17,900 level. Gold continued its decline.

File Photo: The Egyptian Exchange (EGX). Al-Ahram
File Photo: The Egyptian Exchange (EGX). Al-Ahram

 

Stock market
 

The leading index EGX30 grew by 0.38 percent to end at 17,956.32 points, its highest level in nearly two months.

The EGX70 index inched higher by 0.1 percent to close at 3,638.98 points.

EGX100 rose by 0.13 percent to close at 5,367.55 points.

Market capitalization gained EGP 3 billion on Tuesday to reach EGP 1,219 billion.

The top gainer was Ismailia Misr Poultry for the second day in a row after surging 19.97 percent to close at EGP 7.57 per share.

The top loser was Arab Pharmaceuticals, after falling 7.26 percent to close at nearly EGP 62 per share on Tuesday.
 

Gold prices
 

The price of 24-carat gold dropped by EGP 85.75 to reach EGP 2,485.75 per gram.

21-carat gold decreased by EGP 75 to hit EGP 2,175 per gram.

18-carat gold price fell by EGP 64.25 to EGP 1,864.25 per gram.

The price of a pound of gold reached EGP 17,400 on Tuesday, EGP 600 lower than Monday.

*Prices reflect updates recorded as of midday.

Currencies
 

The official dollar exchange rate was stable, with a buy rate of EGP 30.83 and a sell rate of EGP 30.96.

The euro was bought at EGP 33.69 and sold at EGP 33.85.

The Saudi riyal was priced at EGP 8.22 to buy and EGP 8.25 to sell.

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

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