The BLOM Stock Index (BSI) declined by 1.19% to reach 1,023.01 points by the week ending August 10th. The market capitalization declined from last week’s $10.06B to $9.94B this week.
On average, 72,982 shares worth $642,390 were traded on the BSE this past week compared to 76,717 shares worth $706,797 last week.
Regionally, the S&P AFE 40 and the S&P Pan Arab Composite Large Mid Cap Index each declined by 0.49% over the week. However, the MSCI Emerging Markets Index recorded a weekly uptick of 1.05% by August 10th.
The region’s top performers over the week were the bourses of Egypt, Bahrain, and Morocco which increased by 0.39%, 0.26%, and 0.21%, respectively. However, the stock exchanges of Abu Dhabi, Dubai, and Qatar lost weekly 1.09%, 0.97% and 0.75%, respectively.
On the Beirut Stock Exchange (BSE), the banking sector grasped 68.29% of the total trading value, while the real estate and industrial sectors grasped 30.47% and 1.24%, respectively.
In the banking sector, Audi GDR shares increased by 0.39% to end the week at $5.20. Meanwhile, Blom GDR shares, Blom listed shares, and Byblos listed shares prices dropped by 2.84%, 1.49% and 4.05% to end the week at $9.91, $9.95 and $1.42, respectively.
On the London Stock Exchange, the GDR shares of BLOM Bank slipped by weekly 2.94% to $9.9. Meanwhile, the GDRs of Audi Bank added 1.92% to end the week at $5.30.
As for the Blom Preferred shares Index (BPSI), it recorded a loss of 0.51%, thereby ending the week at 93.17 points. In details, the downtick is attributed to the:
In the real estate sector, Solidere A and B shares lost weekly 2.77% and 1.72% to stand at $7.02 and $6.87, respectively.
In the industrial sector, HOLCIM’s listed shares increased by 0.31% to end the week at $16.05.
The BSE‘s subdued performance continues to show the investors’ weak faith in the formation of a government. However, today’s meeting between the Prime Minister Saad el Hariri and Gebran Bassil may bring positive news for the upcoming weeks.