On the Beirut Stock Exchange, the BLOM Stock Index (BSI) gained 1.15% during the week to 1,161.41 points. The average traded volume and value increased from last week’s 81,401 shares worth $765,983 to 185,386 shares worth $2,769,701. Over the past week, the market capitalization on the Beirut Stock Exchange increased from $9.48B to $9.49B.
Markets in the region were all down which allowed the BSI to outperform all three of its regionals peers the S&P Pan Arab Composite Large-Mid-Cap Index, the Morgan Stanley Emerging Markets Index (MSCI) and the S&P AFE 40 Index which dropped by 5.77%, 4.79% and 5.98%, respectively.
All Arab bourses ended the week in the red mostly on account of lower oil prices and the slump of global equity markets. The most pronounced drops were registered by the Dubai stock exchange which lost 6.87%, by Qatar’s bourse which shed 6.54% and by Saudi Arabia’s stock exchange which fell by 6.42%.
On the Beirut Stock Exchange, the banking sector accounted for 90% of the week’s traded value while 9.5% were grasped by the real estate sector and a minor 0.2% was taken by the industrial sector.
In the banking sector, BLOM Bank’s listed shares dropped by 1.05% to $9.40. As for the listed shares of Bank Audi and Byblos Bank, they gained a weekly 1.50% and 0.62% to end the week at $6.09 and $1.63, respectively.
The BLOM Preferred Shares Index (BPSI) ticked up by 0.13% to 106.01 points due to the 2.91% increase in the share price of BOB’s preferred J shares to $26.50 and the 0.39% increase in the share price of Audi’s preferred F shares to $102.00. However, Byblos Bank’s preferred 08 and 09 shares declined by 0.30% and 0.10% to settle at a uniform price of $101.00.
In the real estate sector, Solidere A and B shares gained 5.57% and 5.05% to close at $10.61 and $10.41, respectively.
In the industrial sector, HOLCIM shares rose by 0.35% to $14.50.
Looking ahead, the Lebanese Bourse will follow the political progress made in regards to the presidential election and the upcoming releases of the banks’ financials for the year 2015.