Market Watch: EGX Tumbles on Sunday; Gold Prices Reach New HighsSource: www.export-egypt.com 12/24/2023, Location: Africa |
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The Egyptian Exchange (EGX) indices tumbled at the first session of the week and the market cap lost EGP 18 billion.
Gold prices are still rising and 21-carat gold achieved a new high at EGP 3,050 per gram. Stock market The EGX30 index declined by 1.99 percent, settling at 23,822 points. The EGX70 shrank 1.42 percent to end at 5,313 points; the EGX100 index decreased by 1.61 percent to close at 7,639 points. The market capitalization lost EGP 20 billion, ending at around EGP 1,648 billion. The biggest winner in the market on Sunday was Egyptian Modern Education Systems. The stock soared 12.58 percent to close at EGP 0.349 per share. However, the worst performer on the exchange today was Themar Company for Securities. The stock fell 18.55 percent to EGP 6.85 per share. Gold purchase prices The purchase price of 24-carat gold increased by EGP 57 to EGP 3,486 per gram on Sunday, compared to Thursday’s prices. The 21-carat gold price rose by EGP 50 to reach EGP 3,050 per gram, and the 18-carat gold price went up by EGP 43 to EGP 2,614 per gram. The price of the gold pound jumped EGP 400 to hit EGP 24,400 for purchase. *Prices reflect updates recorded as of midday. Currencies 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 33.9382 for purchase and EGP 34.0946 for sale. The Saudi riyal is priced at EGP 8.2173 for buying and EGP 8.2531 for selling. *Sources: The Central Bank of Egypt's official exchange rates, the Egyptian Exchange, and Egypt Gold Price Today. |
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