The BLOM Stock Index (BSI) lost 0.42% in the past week, to stand at 1,168.46 points on March 02, 2018. Accordingly, the market capitalization fell from $11.57B last week to $11.52B, this week.
In fact, an average of 456,434 shares worth $1.22 million were traded this week compared to 101,925 shares worth $850,444 traded in the previous week.
The S&P AFE40 and the MSCI Emerging Markets Index both declined by weekly rates of 1.74% and 0.72% while the S&P Pan Arab Composite Large Mid Cap Index registered an uptick of 1.39%.
Regionally, the biggest gainers of the week were Tunis, Bahrain and Kuwait with respective weekly gains of 1.71%, 1.61% and 1.59%. Meanwhile, stock markets that were down this past week were the UAE, Qatar and Saudi Arabia with respective losses of 2.33%, 4.27% and 1.26%.
On the Beirut Stock Exchange (BSE), the banking sector grasped 79% of the week’s total traded value, while the real estate sector held a stake of 20%, leaving the industrial sector with a marginal 1%.
Meanwhile, in the retail sector, RYMCO’s shares plunged by 7.38% to close the week at $3.01.
In the banking sector, BLOM Bank’s GDR and listed shares declined by a weekly 0.72% and 0.83% to end the week at $12.42 and $11.90, respectively.
As for the BLOM Preferred Shares Index (BPSI), it gained a weekly 0.51% to 106.51 points. In fact, Bank Audi’s Preferred J shares gained a weekly 0.05% to $100.00 and Bank of Beirut’s preferred I shares rose by 4% to $26.00. Meanwhile, Byblos Bank’s Preferred 2009 shares and BLC Bank’s Preferred D shares declined by 0.39% to $102.60 and 0.99% to $100.00, respectively.
In the real estate sector, Solidere A and B shares fell by 2.13% and 1.79% to end the week at $8.29 and $8.25, respectively.
In the retail sector, Rymco’s listed shares fell from last week’s $3.25 to $3.01 this week.
On the London Stock Exchange, BLOM Bank’s GDR shares slid by a weekly 0.8% to $12.40 while Bank Audi’s GDR shares gained 4.39% over the week to $5.95.
Looking ahead, the outcome of the politicians’ scramble with the 2018 draft budget will be closely monitored by investors.