The BLOM Stock Index (BSI) was down by 0.89% this past week to reach 1,159.31 points.
A daily average of 1,747,590 shares worth $11.3M were traded this past week compared to 108,823 shares worth $1.61M last week.
However, the market capitalization slipped from $10.08B last week to $9.99B this week.
Regionally, the S&P Pan Arab Composite LargeMidCap Index and the S&P AFE40 rose by a weekly 0.43% and 0.47% to 113.1404 and 55.43, respectively, while the MSCI Emerging Markets Index slipped by a weekly 1.2% to stand at 988.38
Regionally, the bourses of Egypt and the UAE declined by 0.85% and 0.5%, respectively, while the stock exchange of Morocco rose by a weekly 0.57%.
On the Beirut Stock Exchange (BSE), the banking sector accounted for 99.98% of the total traded value over the past week; this can be attributed to the large listed shares trade conducted by Bank Audi worth $49.7M.
Bank Audi’s GDR shares and Byblos Listed shares rose by 0.16% and 2.47%, to $6.36 and $1.66 respectively, this week, while Bank Audi’s listed shares declined by 4.54% to $6.10.
As for the BLOM Preferred Shares Index (BPSI), it marginally rose by 0.01% to 104.72 points. The incremental rise came on the back of a 0.4% decline in Bank of Beirut’s preferred K share to the price of $25.15 and the calibrating 0.3% uptick in the Byblos Preferred 2008 shares to $100.8.
In the real estate sector, Solidere’s A and B shares declined by 2.44% and 3.41% to $8.78 and $8.50, respectively.
In the industrial sector, Holcim’s shares gained a weekly 3.87% to close at $12.36.
On the London Stock Exchange (LSE), BLOM Bank GDRs gained 0.43% to close at $11.70, while Bank Audi’s GDR shares lost 1.55% to $6.36. Solidere’s GDR shares decreased by 2.70% to $9.00.
Politicians failing to reach a consensus on the electoral this week negatively affected investors’ confidence, the reason why the overall sentiment on the BSE remained subdued.