BLOM Stock Index Down during this Week’s Performance  

The BLOM Stock Index (BSI) dropped by a weekly 0.06% to 1,154.71 points this Friday.

On average, 170,306 shares worth $1.67M were traded this week compared to 81,393 shares worth $644,542 traded last week.

The market capitalization also dropped from last week’s $10.24B to $10.23B this week.

Regionally, the S&P Pan Arab Composite Large Mid Cap Index and  the S&P AFE40 Index increased by 1.73% and 0.87%, respectively, while the MSCI Emerging Markets Index dropped 1.61%.

In the Arab world, the bourses of KSA, Dubai and Egypt were the top gainers with weekly upticks of 1.42%, 0.62% and 0.55%, respectively. Meanwhile, the stock market in Tunisia fell by a weekly rate of 0.05%.

On the BSE, the real estate sector grasped the largest share of 77.65%, while banking and industrial sectors accounted for the remaining shares of 20.42% and 1.93%.

In the banking sector, BLOM Bank’s GDR and listed shares fell by 0.39% and 0.43% to end the week at $12.65 and $11.60, respectively. On the contrary, Bank Audi’s GDR added 0.84% to reach $6.

As for the BLOM Preferred Shares Index (BPSI), it rose by 0.07% over the past week to reach 105.34 points due to respective rises of 0.50% and 0.1%  in the prices of Audi preferred G and I shares to $101.5 and $101.1.

On the London Stock Exchange (LSE), both Audi GDRs and Byblos GDRs witnessed losses of 1.15% and 0.13% to $6 and $77, respectively.

In the real estate sector, Solidere A shares rose by a weekly 0.63% to $8.03.

In the industrial sector, Holcim and Ciments Blancs Bearer shares decreased by 1.72% and 9.09% to $13.75 and $3.50, respectively.

The BSE has been witnessing sluggish performance in the past few weeks on the back of tax reforms and several governmental decisions; however, the bourse’s future performance will be highly reliant on the Lebanese banks’ results for the third quarter of the year

Leave a Reply

Your email address will not be published. Required fields are marked *